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prmat

Price with interest at maturity

Syntax

[Price, AccruInterest] = prmat(Settle, Maturity, Issue, Face,
CouponRate, Yield, Basis)

Arguments

Settle

Enter as serial date number or date string. Settle must be earlier than Maturity.

Maturity

Enter as serial date number or date string.

Issue

Enter as serial date number or date string.

Face

Redemption (par, face) value.

CouponRate

Enter as decimal fraction.

Yield

Annual yield. Enter as decimal fraction.

Basis

(Optional) Day-count basis of the instrument. A vector of integers.

  • 0 = actual/actual (default)

  • 1 = 30/360 (SIA)

  • 2 = actual/360

  • 3 = actual/365

  • 4 = 30/360 (BMA)

  • 5 = 30/360 (ISDA)

  • 6 = 30/360 (European)

  • 7 = actual/365 (Japanese)

  • 8 = actual/actual (ICMA)

  • 9 = actual/360 (ICMA)

  • 10 = actual/365 (ICMA)

  • 11 = 30/360E (ICMA)

  • 12 = actual/actual (ISDA)

  • 13 = BUS/252

For more information, see basis.

Description

[Price, AccruInterest] = prmat(Settle, Maturity, Issue, Face, CouponRate, Yield, Basis) returns the price and accrued interest of a security that pays interest at maturity. This function also applies to zero-coupon bonds or pure discount securities by setting CouponRate = 0.

Examples

expand all

Compute the Price and Accrued Interest of a Security That Pays Interest at Maturity

This example shows how to compute the price and accrued interest of a security that pays interest at maturity.

Settle = '02/07/2002';
Maturity = '04/13/2002';
Issue = '10/11/2001';
Face = 100;
CouponRate = 0.0608;
Yield = 0.0608;
Basis = 1;

[Price, AccruInterest] = prmat(Settle, Maturity, Issue, Face,...
CouponRate, Yield, Basis)
Price =

   99.9784


AccruInterest =

    1.9591

References

Mayle, Standard Securities Calculation Methods, Volumes I-II, 3rd edition. Formula 4.

See Also

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