clean price

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Clean price

Bond price excluding accrued interest.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Clean Price

The price of a coupon bond that does not include any interest that accrues. That is, a clean price is the price of a bond discounting future cash flows. Because the dirty price does include interest between coupon payments, the dirty price and the clean price will equal each other only immediately following a coupon payment. Most American exchanges use the clean price when quoting bond prices.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

clean price

The price of a bond without accrued interest. Compare dirty price.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
References in periodicals archive ?
Because the quoted price on a bond is the clean price, it is more convenient to work with the clean price than the simple price.
Therefore, in this case, the clean price approximately equals the par value:
In the last example, the clean price is determined by
Figure 2 shows the clean price as a function of the time in half-years to the first coupon payment.
Yield and Contract Rate Based upon the Clean Price. Regardless of how the par value is distributed, the yield on a bond:
Because the error term Q(r) is typically small, as indicated by equation (10), the relationship between the clean price and yield for a bond between payment dates is roughly the same as the relationship between the price and yield on the ex coupon date.
Quotations of the corresponding clean price, accrued interest, total price and consideration are, however, easily prepared.
The index of sovereign bond clean prices Cbonds-GBI RU PI declined from 110.43 to 107.30 during the month.
``Added to this is the problem of vendors, such as fleet and contract hire disposers, insisting on achievingCAP Clean prices for cars which are closer to CAP Average condition.