# ODDFPRICE

## Content

This function calculates the price per $100 face value of a security with an odd first period.

## Syntax

`ODDFPRICE(settle, maturity, issue, first, rate, yield, redeem, freq, [basis])`

## Arguments

This function has these arguments:

| Argument | Description |
| -------- | ----------- |
| *settle* | [Required] Settlement date for the security |
| *maturity* | [Required] Maturity date for the security |
| issue | [Required] Issue date for the security |
| first | [Required] First coupon date |
| rate | [Required] Annual interest rate |
| yield | [Required] Annual yield for the security |
| redeem | [Required] Redemption value per $100 face value for the security |
| freq | [Required] Frequency of payment, number of payments per year |
| *basis* | [Optional] Integer representing the basis for day count |

## Remarks

This function returns an error when *settle*, *maturity*, *issue*, or *first* is invalid. *Settle*, *maturity*, *issue*, *first*, and *basis* are truncated to integers.

* If *rate* or *yield* is less than 0, a #NUM! error is returned.
* If *basis* is less than 0 or greater than 4, a #NUM! error is returned.

*Maturity* should be greater than first which should be greater than settle which should be greater than the issue. Otherwise a #NUM! error is returned.

## Examples

`ODDFPRICE(A1,A2,A3,A4,A5,A6,A7,A8,A9)`