PRICEDISC

PRICEDISC

Synopsis

PRICEDISC(settlement,maturity,discount,redemption[,basis])

Description

PRICEDISC calculates and returns the price per $100 face value of a security bond. The security does not pay interest at maturity.

settlement is the settlement date of the security. maturity is the maturity date of the security. discount is the rate for which the security is discounted. redemption is the amount to be received on maturity date.

basis is the type of day counting system you want to use:

0 US 30/360

1 actual days/actual days

2 actual days/360

3 actual days/365

4 European 30/360

  • If settlement date or maturity date is not valid, PRICEDISC returns #NUM! error.
  • If basis is omitted, US 30/360 is applied.
  • If basis < 0 or basis > 4, PRICEDISC returns #NUM! error.
  • If settlement date is after maturity date or they are the same, PRICEDISC returns #NUM! error.

Examples

See also

PRICEMAT.