PRICEMAT

Price of security that pays interest at maturity

Description

For a security that pays interest at maturity, given the expected yield, calculates the security's price.

Function signature

PRICEMAT(settlement: String, maturity: String, issue: String, rate: Number, yield: Number, basis: String = us_nasd) => Number

Parameter

Description

Settlement

The security's settlement date.

Maturity

The security's maturity or end date.

Issue

The date the security was initially issued.

Rate

The annualized rate of interest.

Yield

The expected annual yield of the security.

Basis

Method to use for counting days per month/year:

  • `us_nasd` (default): 30-day month, 360-day year, i.e. US (NASD).

  • `actual`: Actual number of days per month/year.

  • `actual_360`: 360 day year, actual number of days per month.

  • `actual_365`: 365 day year, actual number of days per month. This means leap years are not taken into account.

  • `european`: Like `us_nasd`, but for months that are not 30 days long, European standards are used.

Examples

date1 = "2010-01-02T13:06:15+03:00"
date2 = "2039-12-31T13:06:15+03:00"
date3 = "2010-01-01T13:06:15+03:00"
date4 = "2009-01-31T13:06:15+03:00"
date5 = "2023-10-31T13:06:15+03:00"
date6 = "2009-01-30T13:06:15+03:00"
date7 = "2023-10-30T13:06:15+03:00"
date8 = "2008-10-30T13:06:15+03:00"

Formula

Return value

PRICEMAT(date1, date2, date3, 3, 1.2, "us_nasd")

245.1347719

PRICEMAT(date1, date2, date3, 3, 1.2)

245.1347719

PRICEMAT(date4, date5, date6, 5, 1, "actual")

473.31715882

PRICEMAT(date6, date7, date8, 5, 1, "actual_360")

355.16687938