Excel like a finance pro.
Financial function
PRICEMAT
Returns the price per 100 face value of a security that pays interest at maturity.
When to use it
Price per 100 face value of a security that pays interest at maturity.
The shape of it
- Syntax
=PRICEMAT(settlement, maturity, issue, rate, yld, [basis])
Worked examples
Rate equals yield
=PRICEMAT(DATE(2008,2,15),DATE(2008,4,13),DATE(2007,11,11),0.061,0.061,0) → 99.98
Rate equal to yield, a hair under par because of accrued interest.
Below par
=PRICEMAT(DATE(2025,1,1),DATE(2026,1,1),DATE(2025,1,1),0.05,0.06,0) → 99.06
Bought at issue, yielding 6% on a 5% note.
Above par
=PRICEMAT(DATE(2025,1,1),DATE(2026,1,1),DATE(2025,1,1),0.05,0.04,0) → 100.96
Yielding 4%.
Worth knowing
- YIELDMAT reverses it.
- Issue must be before settlement.
- Used for CDs and short notes.
Where it goes wrong
- #NUM! for out-of-order dates.
- Text dates return #VALUE!.
Related
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