Excel PRICEMAT Function
If you want to follow along with this tutorial, please download the example spreadsheet.
Description
The PRICEMAT function returns the price per $100 face value of a security that pays interests at maturity.
Syntax and arguments
Formula syntax
Arguments
|
| Basis | Day Count |
| 0 or omitted | US (NASD) 30/360 |
| 1 | Actual/actual |
| 2 | Actual/360 |
| 3 | Actual/365 |
| 4 | European 30/360 |
Return Value
The PRICEMAT function returns a numeric value.
Errors
1. If the argument settlement, maturity and issue are not valid dates, such as are the non-numeric value, or the dates that are earlier than 1/1/1900, the function will return an error value #VALUE!.
2. If the argument basis is out of range (0-4), the function will return an error value #NUM!.
3. If the argument either or both of rate and yld < 0, the function will return an error value #NUM!.
4. If the argument settlement date is later than the maturity date, the function will return an error value #NUM!.
Remarks
1. In Excel, dates are stored as serial number. Default, 1/1/1900 is the 1990 date system which means that 1/1/1900 is the first valid day in Excel and stored as number 1 in Excel. So 1/1/2021 is stored as number 44197.
2. Argument settlement, maturity and issue are truncated to integers. If the arguments include time, the time will be ignored.
3. PRICEMAT is calculated as follows:
B: number of days in a year, which depends on the basis you use in the function.
DIM: number of days from issue date to maturity.
DSM: number of days from settlement to maturity.
A: number of days from issue to settlement.
Version
Excel 2003 or later
Usage and Examples
Example: basic usage
For instance, the range B3:C8 lists all information about a security.
Now to calculate the bond price based on the given information, please use the formula as this:
=PRICEMAT(C4,C5,C3,C6,C7,C8)
Press Enter key to get the result.
Relative Functions:
Excel COUPDAYBS Function
The COUPDAYBS function returns the number of days between the beginning of the coupon period and its settlement date.
Excel ACCRINT Function
The ACCRINT function returns the accrued interest on periodic interest-paying securities.
Excel ACCRINTM Function
The ACCRINTM function returns the accrued interest for a security that pays interest at maturity.
Excel AMORDEGRC Function
The AMORDEGRC function returns the linear depreciation of an asset for each accounting period by applying a depreciation coefficient based on the lifetime of the assets.
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