Difference between revisions of "Manuals/calci/PRICEDISC"

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(Created page with "<div id="6SpaceContent" class="zcontent" align="left"> '''PRICEDISC'''(SettlementDate, MaturityDate, Discount, Redemption, Basis) where, '''SettlementDate''' - repr...")
 
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<div id="6SpaceContent" class="zcontent" align="left">
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=PRICEDISC(settlement, maturity, discount, redemption, basis)=
  
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'''PRICEDISC'''(SettlementDate, MaturityDate, Discount, Redemption, Basis)
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*where 'settlement' is the security's settlement date (a date when coupon or a bond is purchased),
 +
*'maturity' is security's maturity date (a date when coupon or a bond expires),  
 +
*'discount' is security's discount rate,
 +
*'redemption' is security's redemption value per &#36;100 face value, and
 +
*'basis' is the type of day count basis to use.
  
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where,
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PRICEDISC() calculates the price of a discounted security per &#36;100 face value.
  
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'''SettlementDate''' - represents the settlement date.
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== Description ==
  
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'''MaturityDate''' - represents the maturity date.
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PRICEDISC(settlement, maturity, discount, redemption, basis)
  
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'''Discount''' - represents the discount rate.
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*The function returns the price of a discounted security per &#36;100 face value.
 +
*PRICEDISC is calculated by subtracting discounted amount from redemption value.
 +
*Settlement and maturity dates should be entered either in 'date format' or 'dates returned using formulas'. If dates are not valid, Calci displays #N/A error message.
 +
*If settlement date ≥ maturity date, Calci displays #N/A error message.
 +
*'discount' and 'redemption' values must be greater than zero, else Calci displays #N/A error message.
 +
*'basis' value is optional. If omitted, Calci assumes it to be 0.
 +
Below table shows the use of 'basis' values:
  
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'''Redemption''' - represents the redemption value per $100 face value.
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{| class="wikitable"
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|-
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! Basis !! Description
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|-
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| 0 || US (NASD) 30/360
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|-
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| 1 || Actual/actual
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|-
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| 2 || Actual/360
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|-
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| 3 || Actual/365
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|-
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| 4 || European 30/365
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|}
  
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'''Basis''' - type of day count basis
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*If 'basis' value is other than 0 to 4, Calci displays #N/A error message.
  
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'''Basis              Day count basis'''
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== Examples ==
  
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0 or omitted    US 30/360
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<div id="2SpaceContent" class="zcontent" align="left">
  
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1                     Actual/actual
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PRICEDISC(settlement, maturity, discount, redemption, basis) function with inputs in order is calculated as follows:
  
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2                     Actual/360
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<div id="2SpaceContent" class="zcontent" align="left">
  
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3                     Actual/365
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{| id="TABLE3" class="SpreadSheet blue"
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|- class="even"
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| class="sshl_f" | 2/2/2008
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| class="sshl_f" |
  
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4                     European 30/360
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|- class="odd"
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| class="sshl_f" | 11/2/2016
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| class="sshl_f" |
  
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</div>
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|- class="even"
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----
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| class="sshl_f" | 5%
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<div id="1SpaceContent" class="zcontent" align="left">
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| class="sshl_f" |
  
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It returns the price per $100 face value of a discounted.
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|- class="odd"
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| class="sshl_f" | $100
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| class="sshl_f" |
  
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'''Formula''':-
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|- class="even"
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| class="sshl_f" | 1
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| class="sshl_f" |
  
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PRICEDISC =(Redemption-Discount )x Redemption x (D/N)
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|}
  
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where,
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=PRICE(A1,A2,A3,A4,A5) : Calculates the Discounted Price Value with the inputs in the range A1 to A5. Returns ''''.
  
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D - number of days from settlement to maturity.
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== See Also ==
  
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N - number of days in year
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*[[Manuals/calci/PRICE | PRICE]]
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*[[Manuals/calci/PRICEMAT | PRICEMAT]]
  
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</div>
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== References ==
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----
 
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<div id="7SpaceContent" class="zcontent" align="left">
 
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If Basis &lt; 0 or Basis &gt; 4 , PRICEDISC returns the #ERROR.
 
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If Discount &lt;= 0, it returns the #ERROR.
 
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If SettlementDate &gt;= MaturityDate, PRICEDISC returns #ERRROR.
 
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If Redemption &lt;= 0, PRICEDISC returns the #ERROR.
 
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</div>
 
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----
 
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<div id="12SpaceContent" class="zcontent" align="left"><div class="ZEditBox" align="left">
 
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PRICEDISC
 
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</div></div>
 
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----
 
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<div id="8SpaceContent" class="zcontent" align="left">
 
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Lets see an example in (Column2, Row6)
 
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<nowiki>=PRICEDISC(R1C1, R2C1, R3C1, R4C1, R5C1)</nowiki>
 
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PRICEDISC returns 97.852841.
 
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Consider another example
 
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<nowiki>=PRICEDISC(date(1/1/2027),date(2/2/2008), "5%", 100,2)</nowiki>
 
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It returns #ERROR(SettlementDate &gt; MaturityDate).
 
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</div>
 
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----
 
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<div id="10SpaceContent" class="zcontent" align="left"><div class="ZEditBox" align="justify">Syntax </div><div class="ZEditBox"><center></center></div></div>
 
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----
 
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<div id="4SpaceContent" class="zcontent" align="left"><div class="ZEditBox" align="justify">Remarks </div></div>
 
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----
 
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<div id="3SpaceContent" class="zcontent" align="left"><div class="ZEditBox" align="justify">Examples </div></div>
 
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----
 
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<div id="11SpaceContent" class="zcontent" align="left"><div class="ZEditBox" align="justify">Description </div></div>
 
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----
 
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<div id="2SpaceContent" class="zcontent" align="left">
 
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{| id="TABLE3" class="SpreadSheet blue"
 
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|- class="even"
 
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| class=" " |
 
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| Column1
 
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| class="sshl_f  " | Column2
 
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| Column3
 
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| Column4
 
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|- class="odd"
 
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| class=" " | Row1
 
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| class=" " | 2/2/2008
 
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| class="sshl_f    " |
 
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|
 
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|
 
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|- class="even"
 
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| class="  " | Row2
 
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| class=" " | 11/2/2008
 
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| class="sshl_fSelectTD  SelectTD ChangeBGColor" |
 
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|
 
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|
 
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|- class="odd"
 
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| Row3
 
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| class=" " | 5%
 
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| class="  " |
 
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| class="  " |
 
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|
 
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|- class="even"
 
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| Row4
 
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| class=" " | 100
 
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|
 
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|
 
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|
 
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|- class="odd"
 
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| class=" " | Row5
 
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| class="sshl_f " | 4
 
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|
 
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|
 
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|
 
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|- class="even"
 
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| Row6
 
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| class="sshl_f" | 96.263889
 
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|
 
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|
 
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|
 
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|}
 
  
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<div align="left">[[Image:calci1.gif]]</div></div>
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*[http://en.wikipedia.org/wiki/Bond_valuation Bond Valuation]
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----
 

Revision as of 09:35, 9 December 2013

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

  • where 'settlement' is the security's settlement date (a date when coupon or a bond is purchased),
  • 'maturity' is security's maturity date (a date when coupon or a bond expires),
  • 'discount' is security's discount rate,
  • 'redemption' is security's redemption value per $100 face value, and
  • 'basis' is the type of day count basis to use.

PRICEDISC() calculates the price of a discounted security per $100 face value.

Description

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

  • The function returns the price of a discounted security per $100 face value.
  • PRICEDISC is calculated by subtracting discounted amount from redemption value.
  • Settlement and maturity dates should be entered either in 'date format' or 'dates returned using formulas'. If dates are not valid, Calci displays #N/A error message.
  • If settlement date ≥ maturity date, Calci displays #N/A error message.
  • 'discount' and 'redemption' values must be greater than zero, else Calci displays #N/A error message.
  • 'basis' value is optional. If omitted, Calci assumes it to be 0.

Below table shows the use of 'basis' values:

Basis Description
0 US (NASD) 30/360
1 Actual/actual
2 Actual/360
3 Actual/365
4 European 30/365
  • If 'basis' value is other than 0 to 4, Calci displays #N/A error message.

Examples

PRICEDISC(settlement, maturity, discount, redemption, basis) function with inputs in order is calculated as follows:

2/2/2008
11/2/2016
5%
$100
1 
=PRICE(A1,A2,A3,A4,A5) : Calculates the Discounted Price Value with the inputs in the range A1 to A5. Returns '.

See Also

References

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