The price formula does not provide the correct value in two scenarios:
When the settlement date falls between the last coupon dates.
In a leap year, the price is inaccurate for semi-annual coupons when the settlement date is after the second coupon date.
The price formula does not provide the correct value in two scenarios:
When the settlement date falls between the last coupon dates. In a leap year, the price is inaccurate for semi-annual coupons when the settlement date is after the second coupon date.