Manuals/calci/DISC
DISC(SettlementDate, MaturityDate, Price, Redemption, Basis)
where,
- is the security's settlement date (a date when coupon or a bond is purchased)
- is the security's maturity date (a date when coupon or a bond expires)
- is the security's price per $100 face value
- is the amount to be received at maturity of a bond
- is the type of day count basis to use
is the security's settlement date (a date when coupon or a bond is purchased)
is the security's maturity date (a date when coupon or a bond expires)
is the security's price per $100 face value
is the amount to be received at maturity of a bond
is the type of day count basis to useDISC() calculates the discount rate for a security.
Description
DISC(SettlementDate, MaturityDate, Price, Redemption, Basis)
- and should be entered either in 'date format' or 'dates returned using formulas'. If dates are not valid, Calci displays #N/A error message.
- If >= , Calci displays #N/A error message.
- If <=0 or Failed to parse (MathML with SVG or PNG fallback (recommended for modern browsers and accessibility tools): Invalid response ("Math extension cannot connect to Restbase.") from server "https://wikimedia.org/api/rest_v1/":): {\displaystyle Redemption} <=0, Calci displays #N/A error message.
- Failed to parse (MathML with SVG or PNG fallback (recommended for modern browsers and accessibility tools): Invalid response ("Math extension cannot connect to Restbase.") from server "https://wikimedia.org/api/rest_v1/":): {\displaystyle Basis} value is optional. If omitted, Calci assumes it to be 0.
Below table shows the use of Failed to parse (MathML with SVG or PNG fallback (recommended for modern browsers and accessibility tools): Invalid response ("Math extension cannot connect to Restbase.") from server "https://wikimedia.org/api/rest_v1/":): {\displaystyle Basis} values:
| Basis | Description |
|---|---|
| 0 | US (NASD) 30/360 |
| 1 | Actual/actual |
| 2 | Actual/360 |
| 3 | Actual/365 |
| 4 | European 30/365 |
- If Failed to parse (MathML with SVG or PNG fallback (recommended for modern browsers and accessibility tools): Invalid response ("Math extension cannot connect to Restbase.") from server "https://wikimedia.org/api/rest_v1/":): {\displaystyle Basis} value is other than 0 to 4, Calci displays #N/A error message.
- Formula:
If 'B' is number of days in a year, and 'DIM' is number of days from 'Settlement' to ' Maturity', the DISC is calculated as -
DISC = Failed to parse (MathML with SVG or PNG fallback (recommended for modern browsers and accessibility tools): Invalid response ("Math extension cannot connect to Restbase.") from server "https://wikimedia.org/api/rest_v1/":): {\displaystyle \frac{(Redemption-Price)}{Redemption} X \frac{B}{DIM}}
Examples
Consider the following example that shows the use of DISC function:
| 06/09/2010 | ||
| 11/19/2010 | ||
| 97.975 | ||
| 100 | ||
| 1 | ||
=DISC(A1,A2,A3,A4,A5) displays 0.045345092024540005 as a result.