Microsoft Office Tutorials and References
In Depth Information
Using PRICE to Back into a Bond Price
Figure 13.17. If you know the yield, you can back into the price by using the
If you know the yield, you can back into the price by using the
When a bond is sold on the secondary market, it is often sold in between in-
terest payments. Each interest payment date is called a coupondate. You
analyze days until the next coupon date by using the COUP functions.
A whole series of COUP functions analyze the coupon period. The functions
can tell you the previous coupon date, the next coupon date, how many days
since the previous coupon date, and how many days until the next coupon date:
COUPDAYS — This returns the number of days in this coupon period.
COUPDAYBS — This returns the number of days from the beginning of
the coupon period until the settlement date. The BS in the function name
stands for from beginning to settlement.
COUPDAYSNC — This returns the number of days from the settlement
until the next coupon date. NC stands for next coupon.
COUPPCD — This returns the date of the previous coupon date.
COUPNCD — This returns the date of the next coupon date.