Excel

ODDLPRICE function in Excel

Returns the price per $100 face value of a security with an odd last period

=ODDLPRICE(settlement, maturity, last_interest, rate, yld, redemption, frequency, [basis])

ODDLPRICE syntax and parameters

Eight arguments, seven required.

settlementanyRequired
The security's settlement date. The security settlement date is the date after the issue date when the security is traded to the buyer.
maturityanyRequired
The security's maturity date. The maturity date is the date when the security expires.
last_interestanyRequired
The security's last coupon date.
ratenumberRequired
The security's interest rate.
yldnumberRequired
The security's annual yield.
redemptionnumberRequired
The security's redemption value per $100 face value.
frequencynumberRequired
The number of coupon payments per year. For annual payments, frequency = 1; for semiannual, frequency = 2; for quarterly, frequency = 4.
basisnumberOptional
The type of day count basis to use.

Formulas you'll actually reuse.

Price near maturity of a bond whose last coupon period is odd — last interest paid Sep 15:
```
=ODDLPRICE(DATE(2030, 11, 1), DATE(2031, 3, 15), DATE(2030, 9, 15), 5%, 4%, 100, 2, 0)
```
From cells — settlement, maturity, last interest date, rate, yield:
```
=ODDLPRICE(B2, C2, D2, E2, F2, 100, 2)
```

No direct equivalent — here's the way around.

Edit the example — nothing to install.

Preloaded with the ODDLPRICE formula from Example 1 — change anything and watch it respond.

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What they mean — and the fixes.

More ways Excel gets this done.