Sell/Buy-Back Repo Calculator Excel Template
Sell/Buy-Back Repo Calculator Excel Template
Interactive Excel Financial Model
Download, customize, and integrate into your own analysis
What's Included
- Interactive financial model with live Excel formulas
- All formulas visible and fully editable
- Professional formatting with color-coded inputs & outputs
- Formula reference sheet with variable definitions
- Step-by-step instructions sheet
- Compatible with Microsoft Excel 2016 and later
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Price range: $0.00 through $20.00
Calculate forward prices, termination proceeds, and nominal amounts for sell/buy-back repo transactions with live Excel formulas.
Online Calculator vs Excel Template
| Feature | Online | Excel |
|---|---|---|
| Instant use — no download | ✓ | — |
| Works offline | — | ✓ |
| Customize formulas & layout | — | ✓ |
| Save & share with colleagues | — | ✓ |
| Integrate into your own models | — | ✓ |
| Print-ready formatting | — | ✓ |
About This Template
Calculate forward prices and termination proceeds for sell/buy-back repo transactions with this professional Excel template. Perfect for fixed income traders, repo desk analysts, and finance students learning the mechanics of securities financing.
What You Can Calculate
This template computes all key values for a sell/buy-back transaction:
- Dirty Start Price — Settlement price including accrued interest
- Nominal Amount — Face value of bonds delivered against the cash principal
- Repo Interest — Simple interest earned over the repo term
- Termination Money — Total cash paid to repurchase the bonds
- Forward Dirty & Clean Prices — Repurchase prices with the implicit repo rate embedded
Required Inputs
Enter six values to calculate your results:
- Principal — Cash amount received at trade inception ($1,000 to $1B)
- Term — Days from trade date to termination (1-365)
- Repo Rate — Annualized rate as a whole percentage (e.g., 5 for 5%)
- Clean Price — Quoted bond price per 100 face value
- Accrued Interest — Accrued per 100 face value at trade date
- Day Count — Actual/360 (USD/EUR) or Actual/365 (GBP)
Methodology
The template uses standard repo market conventions:
- Nominal = Principal / (Dirty Price / 100)
- Repo Interest = Principal × Rate × (Days / Basis)
- Forward Price = (Termination Money / Nominal) × 100
In a sell/buy-back, the repo rate is implicit — embedded in the forward price differential rather than stated separately. The economic outcome is identical to classic repo.
Assumptions & Limitations
- No coupon payment during the repo term (simplified model)
- No initial margin or haircut applied
- Flat repo rate for the full term
- Forward accrued equals start accrued (no coupon accrual)
Frequently Asked Questions
Yes. To handle coupons during the repo term, add a row for coupon amount and adjust the forward price formula to subtract the coupon and add compensation for delayed receipt. The template's unlocked formulas make this straightforward to customize.
Add a cell with the formula: =(B12/B5-1)*(B6/B4)*100, where B12 is forward dirty price, B5 is dirty start price, B6 is day count, and B4 is term. This extracts the embedded repo rate as a percentage.
Yes. The math is identical - just interpret the cash flow from the buyer's perspective. The 'principal' becomes cash paid out at inception, and 'termination money' is cash received at maturity.
A fully interactive financial model with live Excel formulas, an Instructions sheet with usage guide, and a Formula Reference sheet with variable definitions and model assumptions. All formulas are visible and editable.
Microsoft Excel 2016 or later. The template uses standard Excel formulas only — no macros, VBA, or add-ins required.
Yes. All cells are fully editable. You can modify any formula, add your own calculations, change formatting, or integrate the model into your existing spreadsheets.
The online calculator runs in your browser for quick calculations. This Excel template gives you a portable, offline financial model you can customize, save, share with colleagues, and integrate into your own analysis.
This template is provided for educational and personal use. You may use it in your own professional analysis and presentations. Redistribution or resale of the template itself is not permitted.
You can re-download the latest version from your account or by requesting a new download link. Free downloads are limited to 5 per email address per month.
