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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<div style="font-size:25px">'''PRICEDISC (SettlementDate,MaturityDate,DiscountRate,RedemptionValue,Basis)'''</div><br/>
  
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'''PRICEDISC'''(SettlementDate, MaturityDate, Discount, Redemption, Basis)
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*where <math>SettlementDate</math> is the security's settlement date (a date when coupon or a bond is purchased),  
 +
*<math>MaturityDate</math> is security's maturity date (a date when coupon or a bond expires),  
 +
*<math>DiscountRate</math> is security's discount rate,
 +
*<math>RedemptionValue</math> is security's redemption value per &#36;100 face value, and
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*<math>Basis</math> is the type of day count basis to use.
 +
**PRICEDISC(), returns the price per $100 face value of a discounted security.
  
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where,
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== Description ==
  
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'''SettlementDate''' - represents the settlement date.
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PRICEDISC (SettlementDate,MaturityDate,DiscountRate,RedemptionValue,Basis)
  
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'''MaturityDate''' - represents the maturity date.
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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.
 +
*<math>SettlementDate</math> and <math>MaturityDate</math> 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 <math>SettlementDate</math>  ≥ <math>MaturityDate</math> , Calci displays #N/A error message.
 +
*<math>DiscountRate</math> value must be greater than or equal to zero, else calci displays #N/A error message.
 +
*<math>RedemptionValue</math> value must be greater than zero, else Calci displays #N/A error message.
 +
*<math>Basis</math> value is optional. If omitted, Calci assumes it to be 0.
 +
Below table shows the use of <math>Basis</math> values:
  
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'''Discount''' - represents the discount rate.
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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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'''Redemption''' - represents the redemption value per $100 face value.
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*If <math>Basis</math> value is other than 0 to 4, Calci displays #N/A error message.
  
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'''Basis''' - type of day count basis
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== Examples ==
  
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'''Basis              Day count basis'''
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<div id="2SpaceContent" class="zcontent" align="left">
  
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0 or omitted    US 30/360
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PRICEDISC (SettlementDate,MaturityDate,DiscountRate,RedemptionValue,Basis) function with inputs in order is calculated as follows:
  
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1                     Actual/actual
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<div id="2SpaceContent" class="zcontent" align="left">
  
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2                     Actual/360
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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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3                     Actual/365
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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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4                     European 30/360
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|- class="even"
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| class="sshl_f" | 5%
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| class="sshl_f" |
  
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</div>
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|- class="odd"
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----
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| class="sshl_f" | 100
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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="even"
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| class="sshl_f" | 1
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| class="sshl_f" |
  
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'''Formula''':-
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|}
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PRICEDISC =(Redemption-Discount )x Redemption x (D/N)
 
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where,
 
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D - number of days from settlement to maturity.
 
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N - number of days in year
 
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</div>
 
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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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=PRICEDISC(A1,A2,A3,A4,A5) : Calculates the Discounted Price Value with the inputs in the range A1 to A5. Returns ''56.33879781420765''.
  
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</div></div>
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==Related Videos==
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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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{{#ev:youtube|v=zEG9RXcQQr4|280|center|PRICEDISC}}
  
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<nowiki>=PRICEDISC(R1C1, R2C1, R3C1, R4C1, R5C1)</nowiki>
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== See Also ==
  
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PRICEDISC returns 97.852841.
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*[[Manuals/calci/PRICE | PRICE]]
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*[[Manuals/calci/PRICEMAT | PRICEMAT]]
  
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Consider another example
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== References ==
  
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<nowiki>=PRICEDISC(date(1/1/2027),date(2/2/2008), "5%", 100,2)</nowiki>
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*[http://en.wikipedia.org/wiki/Bond_valuation Bond Valuation]
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*[http://en.wikipedia.org/wiki/Day_count_convention Basis Convention]
  
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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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*[[Z_API_Functions | List of Main Z Functions]]
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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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*[[ Z3 |  Z3 home ]]
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----
 

Latest revision as of 16:02, 16 November 2018

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


  • where is the security's settlement date (a date when coupon or a bond is purchased),
  • is security's maturity date (a date when coupon or a bond expires),
  • is security's discount rate,
  • is security's redemption value per $100 face value, and
  • 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.
  • and 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 ≥ , Calci displays #N/A error message.
  • value must be greater than or equal to zero, else calci displays #N/A error message.
  • value must be greater than zero, else Calci displays #N/A error message.
  • value is optional. If omitted, Calci assumes it to be 0.

Below table shows the use of values:

Basis Description
0 US (NASD) 30/360
1 Actual/actual
2 Actual/360
3 Actual/365
4 European 30/365
  • If 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

References


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