{"id":347,"date":"2025-07-15T13:34:46","date_gmt":"2025-07-15T13:34:46","guid":{"rendered":"https:\/\/functiontranslator.com\/2021\/02\/12\/oddlprice\/"},"modified":"2021-02-13T11:35:48","modified_gmt":"2021-02-13T11:35:48","slug":"oddlprice","status":"publish","type":"post","link":"https:\/\/functiontranslator.com\/en\/oddlprice\/","title":{"rendered":"ODDLPRICE"},"content":{"rendered":"

Below is a detailed guide on how to use the ODDLPRICE function in Microsoft Excel and Google Sheets.<\/p>\n

Overview<\/h2>\n

The ODDLPRICE function calculates the price per $100 face value of a security with either an irregular first or last period that pays periodic interest at a constant rate. It is commonly utilized in finance and accounting for determining bond pricing.<\/p>\n

Syntax<\/h2>\n

The syntax for the ODDLPRICE function is:<\/p>\n

ODDLPRICE(settlement, maturity, issue, first_coupon, rate, yld, redemption, frequency, [basis])<\/code><\/pre>\n
    \n
  • Settlement<\/code>: The date on which the buyer acquires the security.<\/li>\n
  • Maturity<\/code>: The date when the security expires.<\/li>\n
  • Issue<\/code>: The date when the security was issued.<\/li>\n
  • First_coupon<\/code>: The date when the first interest payment is made.<\/li>\n
  • Rate<\/code>: The annual interest rate of the security.<\/li>\n
  • Yld<\/code>: The annual yield of the security.<\/li>\n
  • Redemption<\/code>: The redemption amount per $100 face value of the security.<\/li>\n
  • Frequency<\/code>: The number of coupon payments made each year.<\/li>\n
  • Basis<\/code> (optional): The type of day count basis used in the calculation (0 – US (NASD) 30\/360, 1 – Actual\/Actual, etc.).<\/li>\n<\/ul>\n
    Examples<\/h2>\n
    Example 1: Basic ODDLPRICE Calculation<\/h3>\n
    Calculate the price per $100 face value of a security with the following details:<\/p>\n
      \n
    • Settlement Date: 01-Jan-2022<\/li>\n
    • Maturity Date: 01-Jan-2027<\/li>\n
    • Issue Date: 01-Jan-2022<\/li>\n
    • First Coupon Date: 01-Jul-2022<\/li>\n
    • Interest Rate: 5%<\/li>\n
    • Annual Yield: 6%<\/li>\n
    • Redemption Value: $100<\/li>\n
    • Payment Frequency: Semi-annual (2 payments per year)<\/li>\n<\/ul>\n
      Excel<\/h4>\n\n\n\n\n\n\n\n\n\n\n\n
      Cell<\/th>\nFormula<\/th>\nResult<\/th>\n<\/tr>\n
      A1<\/td>\n01-Jan-2022<\/td>\n<\/tr>\n
      B1<\/td>\n01-Jan-2027<\/td>\n<\/tr>\n
      C1<\/td>\n01-Jan-2022<\/td>\n<\/tr>\n
      D1<\/td>\n01-Jul-2022<\/td>\n<\/tr>\n
      E1<\/td>\n5%<\/td>\n<\/tr>\n
      F1<\/td>\n6%<\/td>\n<\/tr>\n
      G1<\/td>\n$100<\/td>\n<\/tr>\n
      H1<\/td>\n2<\/td>\n<\/tr>\n
      I1<\/td>\n=ODDLPRICE(A1, B1, C1, D1, E1, F1, G1, H1)<\/td>\nResult<\/td>\n<\/tr>\n<\/table>\n
      Google Sheets<\/h4>\n
      =ODDLPRICE(\"01-Jan-2022\", \"01-Jan-2027\", \"01-Jan-2022\", \"01-Jul-2022\", 0.05, 0.06, 100, 2)<\/code><\/pre>\n
      Example 2: ODDLPRICE with Custom Day Count Basis<\/h3>\n
      Calculate the price per $100 face value using the Actual\/Actual day count basis:<\/p>\n
        \n
      • Day Count Basis: Actual\/Actual<\/li>\n<\/ul>\n
        Excel<\/h4>\n\n\n\n\n
        Cell<\/th>\nFormula<\/th>\nResult<\/th>\n<\/tr>\n
        J1<\/td>\n2<\/td>\n<\/tr>\n
        K1<\/td>\n=ODDLPRICE(A1, B1, C1, D1, E1, F1, G1, H1, J1)<\/td>\nResult<\/td>\n<\/tr>\n<\/table>\n
        Google Sheets<\/h4>\n
        =ODDLPRICE(\"01-Jan-2022\", \"01-Jan-2027\", \"01-Jan-2022\", \"01-Jul-2022\", 0.05, 0.06, 100, 2, 1)<\/code><\/pre>\n
        By understanding the parameters and utilizing the ODDLPRICE function as demonstrated, you can effectively calculate the price per $100 face value of bonds in Microsoft Excel and Google Sheets, especially when dealing with securities that have an irregular first or last period.<\/p>\n","protected":false},"excerpt":{"rendered":"
        Returns the price per $100 face value of a security with an odd last 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-347","post","type-post","status-publish","format-standard","hentry","category-financial"],"acf":[],"yoast_head":"\nExcel ODDLPRICE Function \u2013 How It Works, Formula Examples and Syntax<\/title>\n<meta name=\"description\" content=\"Learn what the Excel ODDLPRICE function does. 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