Manuals/calci/DISC

DISC (SettlementDate,MaturityDate,Price,RedemptionValue,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
    • DISC(), returns the discount rate for a security.

Description

DISC(SettlementDate, MaturityDate, Price, RedemptionValue, 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   <=0, 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.
  • 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 =  

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.

Related Videos

DISC

See Also

References