PRICE

The price per 100 of a bond that pays coupons, from its yield.

Group: Financial. Compatible with DAX.

Syntax

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

Parameter	Type	Description
`settlement`	Date	The day the buyer takes the security over; later than its issue.
`maturity`	Date	The day the security ends and its face value is repaid.
`rate`	Number	The coupon: the interest paid a year, as a decimal of the face value (0.04 for 4 %).
`yld`	Number	The yield a year the buyer earns, as a decimal.
`redemption`	Number	What is repaid at maturity, in percent of the face value: usually 100.
`frequency`	Whole number	Coupons a year: 1 for yearly, 2 for half-yearly, 4 for quarterly.
`basis`	Whole number optional	The day count, by number: US 30/360 (0, when left out), actual/actual (1), actual/360 (2), actual/365 (3) or European 30/360 (4).

Number. The clean price, as a percentage of face value, without the interest accrued since the last coupon.

The coupons still to come and the redemption, each discounted at the yield from settlement, less the interest accrued since the last coupon (ACCRINT), which the buyer pays separately.
A bond whose coupon equals its yield is priced at its redemption on a coupon date: 100.
With one coupon left, the payment is discounted at simple interest.
A coupon or yield below 0, a redemption of 0 or less, or settlement on or after maturity, is an error.
The dates are taken as whole days. frequency and basis are rounded to whole numbers first; a frequency other than 1, 2 or 4, or a basis outside 0 to 4, is an error.

Bought 15 February 2008, maturing 15 November 2017, half-yearly coupons on 30/360.

EVALUATE
ROW (
    "Price", PRICE ( DATE ( 2008, 2, 15 ), DATE ( 2017, 11, 15 ), 0.0575, 0.065, 100, 2, 0 )
)

Price
94.6343616213221

EVALUATE
ROW (
    "Price", PRICE ( DATE ( 2026, 11, 2 ), DATE ( 2031, 11, 2 ), 0.04, 0.04, 100, 1, 1 )
)

Price
100

Last updated 3 November 2026 · OpenBI Studio 0.3.74