Skip to content
Excel

PRICE function in Excel

Returns the price per $100 face value of a security that pays periodic interest

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

PRICE syntax and parameters

Seven arguments, six 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.

  • ratenumberRequired

    The security's annual coupon 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.

PRICE examples

Formulas you'll actually reuse.

  1. A 5% semi-annual bond priced to a 4% yield, per $100 face value, 30/360 basis:

    =PRICE(DATE(2026, 5, 15), DATE(2031, 3, 15), 5%, 4%, 100, 2, 0)

    Result104.35

  2. The cash value of a holding — price per 100 times the face amount in F2:

    =PRICE(B2, C2, D2, E2, 100, 2) * F2 / 100

PRICE in Google Sheets

Same name — your formula ports as-is.

Try PRICE in the playground

Edit the example — nothing to install.

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

Loading the editor…

PRICE errors

What they mean — and the fixes.

  • #NUM!

    settlement is on or after maturity, frequency isn't 1, 2 or 4, or basis is outside 0–4.

Related functions

More ways Excel gets this done.