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:

PRICEDISC(DATE(2008,2,16),DATE(2008,3,1),0.0525,100,2) results in 99.7958

end example]