If you go to savingsbond.gov, choose the date 2023-07-17 and look at the CUSIP 91282CBM2, you'll see that it has a rate of 0.125%, a maturity of 2024-02-14, and a sell price of 97.03125. It's a 3 year note that pays a coupon semi-annually.
That price matches what I see in in my brokerage's interface and I'd like to compute (or estimate) that price myself in a Google sheet. I think I need to use some combination of the PRICE() and/or YIELD() functions and knowledge of the yield curve as of 2023-07-17, but I'm not quite sure how to do it.
To continue the example, I have:
- Settlement: 2023-07-17
- Maturity: 2024-02-14
- Rate: 0.00125
- Price: 97.03125
- Redemption: 100
- Frequency: 2 (semi-annual coupon)
- Day count convention: 1 (Actual/Actual)
My question is: can I use knowledge of the current yield curve to estimate that 0.054 number? I imagine that bond traders have a way to calculate the fair price of a bond given the current interest rate environment.