PRICEMAT in Collabora Office: Price a Security That Pays Interest at Maturity
Use Collabora PRICEMAT with issue, settlement, and maturity dates, reproduce the documented price, and audit accrued interest and maturity cash separately.
Verification status: See the evidence and test scope described in this guide. How formula examples are checked
Quick answer: =PRICEMAT(DATE(1999;2;15);DATE(1999;4;13);DATE(1998;11;11);6.1%;6.1%;0) has documented price 99.98449888 per 100 par. The security pays its interest at maturity.
Syntax and three distinct dates
=PRICEMAT(Settlement; Maturity; Issue; Rate; Yield [; Basis])
Settlement is the purchase date, Maturity the expiry date, and Issue the original issue date. Rate is the security’s interest rate at issue; Yield is the annual yield used for valuation. All five are required. Basis is optional and defaults to zero.
| Basis | Documented convention |
|---|---|
| 0 or omitted | US NASD, twelve 30-day months |
| 1 | Actual days in months and actual days in year |
| 2 | Actual days in months, 360-day year |
| 3 | Actual days in months, 365-day year |
| 4 | European method, twelve 30-day months |
Use DATE or genuine date cells for the inputs. A date-looking subtraction expression is not a date. The examples supply Basis explicitly and do not certify every month-end or multi-year actual/actual boundary.
The date order in the formula is Settlement, Maturity, Issue, not chronological order. Keep separate labeled input cells to prevent swapping the issue and settlement dates. There is no Frequency argument because this is the maturity-interest case.
Example: reproduce the source price
Enter the three dates and two rates in B2:B6, then basis 0 in B7. Use =PRICEMAT(B2;B3;B4;B5;B6;B7) in B9.
The documented result is 99.98449888. An independent ordinary 30/360 reconstruction uses these day counts:
- Issue to settlement: 94
- Issue to maturity: 152
- Settlement to maturity: 58
The counts reconcile: 94+58=152. These are 30/360 values for the stated non-month-end dates, not actual calendar-day differences.
Independently reconstruct the valuation
The maturity cash per 100 par is 100+100×6.1%×152/360, approximately 102.575555556. Discount that single receipt by 1+6.1%×58/360, then subtract accrued interest 100×6.1%×94/360.
The resulting independent price is approximately 99.984498875557, matching the vendor’s rounding. The accrued-interest component is approximately 1.592777778.
This mathematical reconstruction explains the source control without claiming native execution or a complete undocumented algorithm for every basis.
Advanced comparison: equal coupon and yield do not force a price of 100
In the documented example both rates are 6.1%, yet the quoted price is about 99.9845 rather than exactly 100. The issue-to-maturity interest accrual, settlement discounting, and accrued-interest subtraction all affect the result.
Do not “correct” the price to 100 merely because Rate and Yield match. That intuition ignores the timing and the maturity-payment structure in this example.
Advanced application: build an audit block
Store the three day counts in separate cells, the maturity receipt in another, and the accrued-interest amount in another. Keep the discounted receipt and final quote distinct. Then compare your independently reconstructed quote with PRICEMAT for the explicit control.
For a hypothetical face amount 10000, the independent quote scales to approximately 9998.449887556 per quote/100*face_amount. Accrued interest in the source model scales separately to approximately 159.277777778.
SUM can reconcile components, while ROUND controls a final report. Do not round the day fractions early to force a quote to look like a whole number.
Errors and limitations
Verify Issue, Settlement, and Maturity are genuine dates in a meaningful sequence and that the rate inputs use percentage scale. The dedicated source does not enumerate every invalid-date error, month-end rule, or actual/actual denominator choice.
There is no redemption-value or coupon-frequency parameter. Do not append arguments from PRICE or assume the function handles periodic coupon streams. A maturity-interest security is a distinct cash-flow model.
The example does not include fees, taxes, transaction rounding, or a live market quote. Its independent arithmetic supports the documented control, not a recommendation or a guarantee about every target-version edge case.
Availability and verification
The exact function is documented in Collabora Office 26.04 desktop help, retrieved and reviewed on October 17, 2026. This establishes a documentation scope, not the first release that introduced the function or the last version in which it works; those versions and any retirement date remain unestablished. Collabora Online and mobile support are not inferred from desktop help, nor is behavior in another spreadsheet product.
The examples are documentation-based expectations with independent calculations. They have not been executed in Collabora Office. No application screenshot or native error/coercion certification is implied. Formulas use English function names and semicolon argument separators.
References
- Collabora Office 26.04: PRICEMAT (checked October 17, 2026).
- Editorial testing standards.