Manuals/calci/PRICEDISC
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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' value must be greater than or equal to zero, else calci displays #N/A error message.
- 'redemption' 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(settlement, maturity, discount, redemption, 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.