| BondPriceVar() function | |
BondPriceVar() functionBondPriceVar(argument list…)
This function returns the "flat" price (i.e. price without accrued interest) from yield for a bond with variable coupons. The function uses the following arguments:
| Argument | Description | Restrictions |
| Settlement_Date | bond settlement date | valid Excel date number |
| Maturity_Date | bond maturity date | valid Excel date number > Settlement_Date |
| Coupon_Dates | array of bond coupon payment dates | - strictly ascending order The first date of this array must be the bond's next coupon date, or an earlier coupon date. The final date of this array must be the bond's maturity date. |
| Coupon_Rates | array of coupon rates corresponding to Coupon_Dates array | >= 0 |
| Yield | bond yield to maturity in decimal form | >= 0 |
| Redemption | bond's redemption value per $100 par | > 0 (typically 100) |
| Frequency | number of bond coupons per annum (in the case of zero coupon bonds, indicates the compounding frequency) | 1, 2, 4, or 12 |
| DCB | day count basis | 0 = 30/360 (US) 1 = act/act for CAD/US T-Bonds 2 = act/360 3 = act/365 4 = 30/360 (European) 5 = CAD modified act/365 |
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