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PRICEMAT Function (LibreOffice Calc)

Financial Advanced LibreOffice Calc LibreOffice 3.0

The PRICEMAT function returns the price per 100 currency units of face value for a security that pays interest at maturity. It is essential for valuing interest-bearing, non-coupon instruments.

The **PRICEMAT** function calculates the **price per 100 currency units of face value** for a security that pays **interest only at maturity**. Unlike discount securities (PRICEDISC) or coupon bonds (PRICE), PRICEMAT handles instruments that accrue interest over their life and pay principal + interest at maturity.

What the PRICEMAT Function Does

  • Computes the clean price of an interest‑at‑maturity security
  • Uses issue date, settlement date, maturity date, interest rate, and yield
  • Supports multiple day‑count basis systems
  • Works with real dates, serial numbers, and DATEVALUE
  • Fully compatible with Excel’s PRICEMAT function

It is designed to be precise, finance‑grade, and ideal for structured notes and interest‑bearing deposits.

Syntax

PRICEMAT(settlement; maturity; issue; rate; yield; [basis])

Arguments

  • settlement:
    The date the security is traded to the buyer.

  • maturity:
    The date the security matures.

  • issue:
    The date the security was issued.

  • rate:
    Annual interest rate (e.g., 0.05 for 5%).

  • yield:
    Annual yield to maturity (e.g., 0.045 for 4.5%).

  • basis (optional):
    Day-count convention:

basis Day-count convention
0 US 30/360
1 Actual/Actual
2 Actual/360
3 Actual/365
4 European 30/360

Basic Examples

Price of an interest-at-maturity note

=PRICEMAT("2024-03-15"; "2025-03-15"; "2024-01-01"; 0.05; 0.045)

Using Actual/Actual

=PRICEMAT(A1; A2; A3; 0.04; 0.045; 1)

Using text dates

=PRICEMAT(DATEVALUE(A1); DATEVALUE(A2); DATEVALUE(A3); Rate; Yield)

Advanced Examples

Structured note with Actual/360

=PRICEMAT("2024-01-10"; "2024-10-10"; "2024-01-01"; 0.052; 0.049; 2)

From imported CSV timestamps

=PRICEMAT(DATEVALUE(LEFT(A1;10)); DATEVALUE(LEFT(A2;10)); DATEVALUE(LEFT(A3;10)); Rate; Yield)

From Excel serial dates stored as text

=PRICEMAT(DATE(1899;12;30)+VALUE(A1); DATE(1899;12;30)+VALUE(A2); DATE(1899;12;30)+VALUE(A3); Rate; Yield)

Compute yield from price (inverse)

=YIELDMAT(Settlement; Maturity; Issue; Rate; Price; Basis)

Compute maturity value

=100 * (1 + Rate * YEARFRAC(Issue; Maturity; Basis))

Compute discount from par

=100 - PRICEMAT(A1;A2;A3;Rate;Yield;Basis)

Edge Cases and Behavior Details

PRICEMAT returns a numeric value (price per 100 face value)

Accepts:

  • Real dates
  • Serial numbers
  • DATEVALUE outputs

Invalid text → Err:502

Behavior details

  • Issue < Settlement < Maturity must hold
  • Basis must be 0–4
  • Rate and yield must be ≥ 0
  • Time components ignored
  • Uses clean price (no accrued interest because interest is paid at maturity)

PRICEMAT of an error → error propagates

Common Errors and Fixes

Err:502 — Invalid argument

Cause:

  • Dates not recognized
  • Basis outside 0–4
  • Rate or yield not numeric

Fix:

  • Wrap dates with DATEVALUE
  • Validate basis
  • Ensure rate and yield are numeric

Err:504 — Invalid date sequence

Cause:

  • Settlement before issue
  • Settlement after maturity

Fix:

  • Correct date order

Unexpected price

Cause:

  • Wrong basis
  • Incorrect rate or yield
  • Incorrect issue date

Fix:

  • Verify inputs carefully
  • Confirm day-count convention

Best Practices

  • Use Actual/360 (basis 2) for money‑market instruments
  • Use Actual/Actual (basis 1) for government notes
  • Normalize text dates with DATEVALUE
  • Validate date order carefully
  • Use PRICEMAT with YIELDMAT for full interest‑at‑maturity modeling
PRICEMAT is your interest‑at‑maturity pricing engine — essential for structured notes, deposits, and any professional money‑market model.
  • Use YIELDMAT to compute yield from price
  • Use PRICEDISC for pure discount securities
  • Use DISC to compute discount rate
  • Use ACCRINTM for zero‑coupon bonds
  • Use YEARFRAC for fractional year calculations

By mastering PRICEMAT and its companion functions, you can build powerful, accurate, and fully professional fixed‑income valuation models in LibreOffice Calc.