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BondPrice() function

BondPrice(argument list…)

This function returns a bond's "flat" price (i.e. price without accrued interest) from yield. 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 annual bond coupon in decimal form (e.g. six percent entered as 0.06). For zero coupon (strip) bonds, enter 0. >= 0
YTM 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)

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