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BondPriceVar() function

BondPriceVar(argument list…)

This function returns the "flat" price (i.e. price without accrued interest) from yield for a bond with variable coupons. The function uses the following arguments:

Argument Description Restrictions
Settlement_Date bond settlement date valid Excel date number
Maturity_Date bond maturity date valid Excel date number
> Settlement_Date
Coupon_Dates array of bond coupon payment dates - strictly ascending order
The first date of this array must be the bond's next coupon date, or a
n earlier coupon date. The final date of this array must be the bond's maturity date.
Coupon_Rates array of coupon rates corresponding to Coupon_Dates array >= 0
Yield bond yield to maturity in decimal form >= 0
Redemption bond's redemption value per $100 par > 0
(typically 100)
Frequency number of bond coupons per annum (in the case of zero coupon bonds, indicates the compounding frequency) 1, 2, 4, or 12
DCB day count basis 0 = 30/360 (US)
1 = act/act for CAD/US T-Bonds
2 = act/360
3 = act/365
4 = 30/360 (European)
5 =
CAD modified act/365

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