PRICEMAT in Zoho Sheet: Syntax and Worked Examples

PRICEMAT prices a security whose interest is paid at maturity. The quoted result is per 100 of principal, not the total cash amount for an arbitrary holding. Issue, settlement and maturity are separate dates: interest accrued before purchase changes the relationship between the clean quote and the settlement amount.

With issue January 15, 2026, settlement April 15, 2026, maturity January 15, 2027, annual interest 6%, annual yield 8% and basis 0, the independently calculated clean price is 98.50 per 100. These new examples have not been executed in Zoho Sheet.

=PRICEMAT(settlement; maturity; issue_date; rate; yield; [basis])

Rate is the security’s interest rate; yield is the annual yield used for discounting. Enter 6% as 0.06 or 6%. There is no frequency argument: this is not a stream of periodic coupons. Use genuine dates, such as DATE(2026;4;15), rather than ambiguous date text.

Basis defaults to 0. The official mapping is 0 US/NASD 30/360, 1 actual/actual, 2 actual/360, 3 actual/365 and 4 European 30/360. The original examples here use mid-month dates and explicit basis 0 or 3. The official PRICEMAT reference gives the signature and per-100 units.

Enter =PRICEMAT(A2;B2;C2;D2;E2;F2), or:

=PRICEMAT(DATE(2026;4;15);DATE(2027;1;15);DATE(2026;1;15);0.06;0.08;0)

Under this 30/360 example, issue-to-settlement is 90 days, settlement-to-maturity is 270 and issue-to-maturity is 360. The independent calculation is:

1. Total interest at maturity: 100×0.06×360/360 = 6.
2. Maturity payment: 100+6 = 106.
3. Present value at settlement: 106/(1+0.08×270/360) = 100.
4. Accrued interest before settlement: 100×0.06×90/360 = 1.5.
5. Clean price: 100−1.5 = 98.5.

For this model, a nominal principal of 10,000 gives a clean amount of 9,850 and accrued interest of 150, totaling 10,000 before fees. Multiplying the clean quote alone by principal/100 omits that accrued component. This is a worked unit conversion, not an investment recommendation.

The short help article does not print the equation. Its linked public vendor demonstration supplies complete inputs that distinguish the interpretations.

The demonstration’s basis-2 row has settlement February 1, 2018, maturity December 31, 2018, issue January 3, 2018, rate 1.18 and yield 1.5. It displays 82.077923211. Actual day counts are 29 accrued days, 333 remaining days and 362 total days. Independently, (100+100×1.18×362/360)/(1+1.5×333/360)−100×1.18×29/360 equals 82.07792321116928, matching the displayed precision. Leaving out accrued interest would give 91.5834787667 instead. These unusually high vendor rates serve as documentary evidence, not as the realistic inputs used above.

This corroborates the clean-price model for that published example; it does not certify all date boundaries or day-count implementations.

Keep the original issue, settlement and maturity dates. These are independent expectations:

For the first row, the maturity amount is 104, accrued interest is 1 and the price is 104/1.0375−1. For basis 3, actual dates give 90 accrued days, 275 remaining days and 365 total days; the calculation is 106/(1+0.08×275/365)−6×90/365.

Equal rate and yield need not produce a clean price of exactly 100 between issue and maturity under this simple-interest model. Avoid importing that shortcut from a different coupon-pricing setup.

Use chronological issue ≤ settlement < maturity dates and sensible numeric rates for the demonstrated model. These are controlled example assumptions, not an exhaustive list of Zoho’s validation rules. The article’s generic error table does not establish exact tokens for every reversed date, zero denominator, negative yield or fractional basis. Those cases remain untested here. Basis 1, month-end and leap-boundary details are outside these worked calculations.

PRICE addresses periodic-coupon pricing and takes a frequency argument; substituting its contract would change the model. DATE and YEARFRAC help with inputs and day-count interpretation.

Official documentation and its existing public demonstration were checked on October 18, 2026. New examples are independently calculated and were not run in a Zoho workbook or calculation engine. The public demonstration is vendor-supplied evidence. No introduction version, mobile parity, retirement or deprecation is established by these rolling pages.