What is the syntax for ODDLPRICE in Excel?

The syntax for ODDLPRICE is: =ODDLPRICE(settlement, maturity, last_interest, rate, yld, redemption, frequency, [basis])

What are common errors with ODDLPRICE?

#NUM! if dates are invalid. #VALUE! if non-numeric inputs

When do I use ODDLPRICE instead of regular PRICE?

Use ODDLPRICE when a bond's last coupon period is shorter or longer than the standard frequency. This often happens when bonds mature on dates that don't align perfectly with the regular coupon schedule.

What is the difference between ODDLPRICE and ODDFPRICE?

ODDLPRICE handles irregular last periods (near maturity), while ODDFPRICE handles irregular first periods (after issuance). Both deal with non-standard coupon timing but at opposite ends of the bond's life.

Financial

ODDLPRICE Function in Excel

Returns the price per $100 face value of a security with an odd last period.

Syntax

=ODDLPRICE(settlement, maturity, last_interest, rate, yld, redemption, frequency, [basis])

Arguments

settlement (required): Security's settlement date
maturity (required): Security's maturity date
last_interest (required): Last coupon date
rate (required): Annual coupon rate
yld (required): Annual yield
redemption (required): Redemption value per $100 face value
frequency (required): Number of coupon payments per year
basis (optional): Day count basis (0-4)

Examples

=ODDLPRICE(DATE(2024,1,15), DATE(2024,7,10), DATE(2024,1,15), 0.06, 0.08, 100, 2) - Price of bond with odd last period - Result: $98.45

ODDLPRICE modeling tips

Align rate and period units (annual rate ÷ 12 for monthly models).
Use consistent cash-flow signs (outflows negative, inflows positive).
Hub: [Financial functions guide](/guides/excel-financial-functions-guide/).

Common errors

#NUM! if dates are invalid
#VALUE! if non-numeric inputs

Use cases

Bond pricing
Maturity analysis
Fixed income valuation

Frequently asked questions

What is the ODDLPRICE function in Excel? ODDLPRICE calculates the price per $100 face value of a security with an odd (irregular) last coupon period. It's used when the final coupon payment before maturity doesn't follow the regular schedule.
When do I use ODDLPRICE instead of regular PRICE? Use ODDLPRICE when a bond's last coupon period is shorter or longer than the standard frequency. This often happens when bonds mature on dates that don't align perfectly with the regular coupon schedule.
What is the difference between ODDLPRICE and ODDFPRICE? ODDLPRICE handles irregular last periods (near maturity), while ODDFPRICE handles irregular first periods (after issuance). Both deal with non-standard coupon timing but at opposite ends of the bond's life.

Editorial review

Reviewed by Excel.Directory Editorial Team. Updated May 2026.