What is the meaning of FLOATBYZERO's output argument PriceNoAI, in Financial Instruments Toolbox 1.0 (R2012b)?

In the documentation of FLOATBYZERO the definition of the output argument PriceNoAI is the following:

" PriceNoAI:

NINST-by-NUMCURVES matrix of dirty bond price (clean + accrued interest). Each column arises from one of the zero curves. "

The argument is PriceNoAI, which I translate as price with no accrued interest, but its definition is 'clean + accrued interest'.

Which one is the correct one?

Answer 1

[MathWorks Support Team]

The documentation's description of "PriceNoAI" is correct. It is indeed the dirty bond price (clean price + accrued interest). The name "PriceNoAI" may be misleading, but it was originated from "removing the negative accrued interest" which is the same as adding the accrued interest.

Therefore,

- Price is the clean price and,

- PriceNoAI is the dirty price.