PRICEDISC

Syntax:

PRICEDISC ( settlement , maturity , discount , redemption [ , [ basis ] ] )

Description: Computes the price per $100 face value of a discounted security.

Mathematical Formula:

where:

B = number of days in year, depending on year basis.DSM = number of days from settlement to maturity.

Arguments:

Name

Type

Description

settlement

number

The security's settlement date.

maturity

number

The security's maturity date.

discount

number

The security's discount rate.

redemption

number

The security's redemption value per $100 face value.

basis

number

The truncated integer type of day count basis to use, as follows:

Value

Day Count Basis

0 or omitted

US (NASD) 30/360

1

Actual/actual

2

Actual/360

3

Actual/365

4

European 30/360

Time information in the date arguments is ignored.

Return Type and Value: number – The price per $100 face value of a discounted security.

However, if

  • settlement or maturity is out of range for the current date base value, #NUM! is returned.

  • settlement ≥ maturity, #NUM! is returned.

  • discount or redemption ≤ 0, #NUM! is returned.

  • basis < 0 or basis > 4, #NUM! is returned.

example: