The PRICEMAT function calculates the price per \$100 face value of a security that pays interest at maturity. This function is for zero coupon bonds and takes 5 required arguments and 1 optional argument:

PRICEMAT takes 5 required arguments and 1 optional argument:

Syntax: PRICEMAT(settlement, maturity, issue, rate, yld, [basis])

The settlement date is the date a buyer purchases a coupon, such as a bond. The maturity date is the date when a coupon expires. For example, suppose a 10-year bond is issued on January 1, 2014, and is purchased by a buyer seven months later. The issue date would be January 1, 2014, the settlement date would be August 1, 2014, and the maturity date would be January 1, 2024, 10 years after the January 1, 2014, issue date.

##### Using the PRICEMAT function:
The arguments for the PRICEMAT function are:
Argument Required? Description
settlement Required The security's settlement date. The security settlement date is the date after the issue date when the security is traded to the buyer.
maturity Required The security's maturity date. The maturity date is the date when the security expires.
issue Required The security's issue date, expressed as a serial date number..
rate Required The security's interest rate at date of issue.
yld Required The security's annual yield.
basis Optional The type of day count basis to use.
Possible basis argument values:
##### A few more things:
 • Excel stores dates as sequential serial numbers so they can be used in calculations. By default, January 1, 1900 is serial number 1, and January 1, 2014 is serial number 41640 because it is 41,640 days after January 1, 1900. • settlement, maturity, issue and basis are truncated to integers. • If settlement, maturity or issue is not a valid date, PRICEMAT returns the #VALUE! error value. • If rate < 0 or if yld < 0, PRICEMAT returns the #NUM! error value. • If basis < 0 or if basis > 4, PRICEMAT returns the #NUM! error value. • If settlement ≥ maturity, PRICEMAT returns the #NUM! error value..

### Summary

The PRICEMAT function calculates the price per \$100 face value of a security that pays interest at maturity. This function is for zero coupon bonds.