PRICEMAT Function in Google Sheets

Calculate the price of a security that pays interest at maturity, such as a bond.

PRICEMAT Function

The PRICEMAT function in Google Sheets calculates the price per $100 face value of a security that pays interest at maturity.

Syntax

PRICEMAT(settlement, maturity, issue, rate, yield, [day_count_convention])
  • settlement: The security’s settlement date.
  • maturity: The security’s maturity date.
  • issue: The security’s issue date.
  • rate: The security’s annual coupon rate.
  • yield: The security’s annual yield.
  • day_count_convention: (Optional) The day count basis to use. Defaults to 0 (US (NASD) 30/360).

Examples

  1. Basic Security Price Calculation

Calculate the price of a bond that pays interest at maturity:

=PRICEMAT(DATE(2023, 1, 1), DATE(2033, 1, 1), DATE(2023, 1, 1), 0.05, 0.04)

This will output 108.11.

Notes

  • The function is used to price bonds that pay interest only at maturity.
  • The result is expressed as a percentage of face value.
  • PRICE: Calculate the price of a security with periodic interest payments.
  • PRICEDISC: Calculate the price of a discounted security.