{"id":345,"date":"2025-07-15T13:34:46","date_gmt":"2025-07-15T13:34:46","guid":{"rendered":"https:\/\/functiontranslator.com\/2021\/02\/12\/oddfprice\/"},"modified":"2021-02-13T11:35:48","modified_gmt":"2021-02-13T11:35:48","slug":"oddfprice","status":"publish","type":"post","link":"https:\/\/functiontranslator.com\/en\/oddfprice\/","title":{"rendered":"ODDFPRICE"},"content":{"rendered":"

The ODDFPRICE function in Excel and Google Sheets calculates the price per $100 face value of a security that possesses an odd first period. Utilized predominantly in financial analysis and investment planning, this function is essential for valuing bonds, notes, or other securities that do not follow a standard first period.<\/p>\n

Syntax<\/h2>\n

The syntax for the ODDFPRICE function is consistent across both Excel and Google Sheets:<\/p>\n

ODDFPRICE(settlement, maturity, issue, first_coupon, rate, yield, redemption, frequency, [basis])<\/code><\/pre>\n
    \n
  • settlement<\/b>: The date on which the security is bought.<\/li>\n
  • maturity<\/b>: The date on which the security will mature or expire.<\/li>\n
  • issue<\/b>: The date on which the security was issued.<\/li>\n
  • first_coupon<\/b>: The date on which the first interest payment will be made.<\/li>\n
  • rate<\/b>: The annual coupon rate of the security.<\/li>\n
  • yield<\/b>: The annual yield or return of the security.<\/li>\n
  • redemption<\/b>: The value at which the security will be redeemed at maturity.<\/li>\n
  • frequency<\/b>: The frequency of the coupon payments per year (1 for annual, 2 for semi-annual, etc.).<\/li>\n
  • basis<\/b> (optional): The day count convention for interest calculation (0 for US (NASD) 30\/360, 1 for Actual\/Actual, etc.).<\/li>\n<\/ul>\n
    Examples<\/h2>\n
    Let\u2019s look at an example of using ODDFPRICE in Excel:<\/p>\n\n\n\n\n\n\n\n\n\n\n
    Input<\/th>\nValues<\/th>\n<\/tr>\n
    Settlement<\/td>\n1-Jan-2022<\/td>\n<\/tr>\n
    Maturity<\/td>\n1-Jan-2025<\/td>\n<\/tr>\n
    Issue<\/td>\n1-Jul-2021<\/td>\n<\/tr>\n
    First Coupon<\/td>\n1-Jan-2023<\/td>\n<\/tr>\n
    Rate<\/td>\n5%<\/td>\n<\/tr>\n
    Yield<\/td>\n4.2%<\/td>\n<\/tr>\n
    Redemption<\/td>\n$1000<\/td>\n<\/tr>\n
    Frequency<\/td>\n2<\/td>\n<\/tr>\n<\/table>\n
    =ODDFPRICE(\"1\/1\/2022\", \"1\/1\/2025\", \"1\/7\/2021\", \"1\/1\/2023\", 0.05, 0.042, 1000, 2, 0)<\/code><\/pre>\n
    This formula calculates the price per $100 face value of the security based on the given inputs.<\/p>\n
    The ODDFPRICE function can also be useful in comparing bonds with differing terms to maturity and coupon rates, thus aiding in making informed investment decisions.<\/p>\n
    In conclusion, the ODDFPRICE function serves as an indispensable tool for financial analysts, investors, and those engaged in the management of fixed-income securities. It assists in assessing the fair value of securities that exhibit odd first periods, thereby facilitating comprehensive investment analysis and decision-making.<\/p>\n","protected":false},"excerpt":{"rendered":"
    Returns the price per $100 face value of a security with an odd first period<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[199],"tags":[],"class_list":["post-345","post","type-post","status-publish","format-standard","hentry","category-financial"],"acf":[],"yoast_head":"\nExcel ODDFPRICE Function \u2013 How It Works, Formula Examples and Syntax<\/title>\n<meta name=\"description\" content=\"Learn what the Excel ODDFPRICE function does. 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