MicroStrategy ONE
Pricemat (Price at Maturity)
Returns the price, per $100 of face value, on a security that pays interest at maturity.
Syntax
Pricemat <Basis> (Settlement, Maturity, Issue, CouponRate, YieldRate)
Where:
Settlement is the settlement date. This is the date, after issue, on which the security is traded.
Maturity is the maturity date. This is the date on which the security expires.
Issue is the issue date. It is expressed as a serial date.
CouponRate is the interest rate on the date of issue.
YieldRate is the annual yield.
Basis is a parameter that indicates the time-count basis to be used. The default value for Basis is 0, which is typically used by American agencies and assumes 30-day months and 360-day years (30/360). Possible values for this parameter are listed in the following table.
| Basis value | Application |
|
0 (30/360) |
Assumes 30 days in each month, 360 days in each year. |
|
1 (actual/actual) |
Assumes actual number of days in each month, actual number of days in each year. |
|
2 (actual/360) |
Assumes actual number of days in each month, 360 days in each year. |
|
3 (actual/365) |
Assumes actual number of days in each month, 365 days in each year. |
|
4 (30/60) |
Used by European agencies, assumes the same values as “0” for American institutions. |
Expression
Where:
B is the number of days in a year (see Basis)
DSM is the number of days from settlement to maturity
DIM is the number of days from issue to maturity
A is the number of days from issue to settlement
Usage Notes
If Settlement, Maturity, or Issue is not an integer, it is truncated.
The engine returns an empty cell if
- Settlement, Maturity, or Issue is not a valid date
- Rate < 0 or Yield < 0
- Settlement ³ Maturity
The Settlement date, the Maturity date, and the Issue date should be included within single quotations in the expression for the expression to be considered as a valid expression.