Manuals/calci/PRICEDISC

PRICEDISC (SettlementDate,MaturityDate,DiscountRate,RedemptionValue,Basis)

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

Description

PRICEDISC (SettlementDate,MaturityDate,DiscountRate,RedemptionValue,Basis)

• The function returns the price of a discounted security per $100 face value.
• PRICEDISC is calculated by subtracting discounted amount from redemption value.
• $SettlementDate$ and $MaturityDate$ 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 $SettlementDate$ ≥ $MaturityDate$ , Calci displays #N/A error message.
• $DiscountRate$ value must be greater than or equal to zero, else calci displays #N/A error message.
• $RedemptionValue$ value 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 (SettlementDate,MaturityDate,DiscountRate,RedemptionValue,Basis) function with inputs in order is calculated as follows:

2/2/2008
11/2/2016
5%
100
1

=PRICEDISC(A1,A2,A3,A4,A5) : Calculates the Discounted Price Value with the inputs in the range A1 to A5. Returns 56.33879781420765.

Related Videos

PRICEDISC

See Also

• PRICE
• PRICEMAT

References

• Bond Valuation
• Basis Convention

• List of Main Z Functions

• Z3 home