# PRICE

Formulas / PRICE
Calculate the price per \$100 face value of a security that pays periodic interest.
`PRICE(settlement, maturity, rate, yld, redemption, frequency, [basis])`
• Settlement - the date the coupon is purchased
• Maturity - the date the bond expires
• Rate - required
• Yld - the annual yield of the bond security
• Redemption - the value of the bond per \$100 face value
• Frequency - the number of coupon payments per year
• Basis - [OPTIONAL] the financial day count basis

## Examples

• `=PRICE(C9,C10,C7,C8,C6,C12,C13)`

The PRICE function can be used to calculate the value of a bond as a percentage of the face value. For example, this returns 97.56, which indicates that the bond's value is 97.56% of the face value.

• `=F5/100*C5`

To calculate the actual dollar value of a bond, the preceding formula can be used. This will return the bond's actual dollar value.

## Summary

The PRICE function is a useful tool for calculating the price per \$100 of a security that pays periodic interest.

• The PRICE function calculates the price per \$100 of a security and can be used to determine the "market price" of a bond, as well as its value when purchasing.
• The PRICE function allows five optional arguments, which can be used to calculate periodic interest.