PRICEMAT Function
Calculates the price of a security that pays interest at maturity.
Syntax
Parameters
| Parameter | Description | Required |
|---|---|---|
| settlement | Date the security is purchased. | Required |
| maturity | Date the security expires. | Required |
| issue | Date the security was issued. | Required |
| rate | Annual interest rate at issue. | Required |
| yld | Annual yield to maturity. | Required |
| basis | Day-count convention (0 = US 30/360, default). | Optional |
Basic Example
Price of a maturity-paying security
=PRICEMAT(DATE(2024,4,1), DATE(2024,12,31), DATE(2024,1,1), 0.06, 0.05)Calculates the price of a security issued January 1, 2024 with a 6% issue rate and 5% yield.
Advanced Examples
Example 1: With actual/365 basis
Money market instrumentUse basis 3 for actual/365
=PRICEMAT(DATE(2024,4,1), DATE(2024,12,31), DATE(2024,1,1), 0.06, 0.05, 3)How PRICEMAT Works
PRICEMAT calculates the price of a security that pays interest at maturity by discounting the redemption and interest payment at the yield.
Important Notes & Limitations
Settlement must be before maturity.
Issue date must be before maturity.
Basis affects the day count.
Common Errors & Fixes
#NUM! errorInvalid dates or rates.Fix: Verify all inputs and date order.
#VALUE! errorDates are not recognized.Fix: Use DATE function or valid date serial numbers.
Download Practice File
PRICEMAT
pricematPractice PRICEMAT with Real Data
Download a sample CSV file with pre-populated data and practice exercises for the PRICEMAT function. Works in both Excel and Google Sheets.
File format: CSV (comma-separated values) - opens in Excel, Google Sheets, and all spreadsheet apps