Yes
1) name using XLC as you have already done.
2) delete the space before the "=" character to stop XLC automatically subscripting on a redraw.
3) Edit the cell and select the "P" character only goto Excel's main menu and select Format>Cells>Font and uncheck the subscript box. Press Ok and you are done.
I get quite a lot of questions like this brchi maybe you could read through other posts like
Factorials
or
Automatic Subscripting. It is in the
help too below the flash tutorial.
Cheers
John