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 Excel > Functions > Financial > PRICEDISC
 

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

 
 Returns the price per $100 face value for a discounted security.

 settlementThe settlement date of the security.
 maturityThe maturity date of the security.
 discountThe discount rate of the security.
 redemptionThe redemption value of the security per $100 face value.
 basis(Optional) The type of day counting to use:
0 = US 30/360 (default)
1 = Actual/Actual
2 = Actual/360
3 = Actual/365
4 = European 30/360

 REMARKS
 
  		• This function is only available if you have the Analysis ToolPak add-in installed.
     
  		• The settlement date is the date a buyer purchases a coupon, such as a bond.
     
  		• The maturity date is the date when a coupon expires.
     
  		• If "settlement" is not an integer, it is truncated.
     
  		• If "settlement" is not a valid date, then #NUM! is returned.
     
  		• If "settlement" = "maturity", then #NUM! is returned.
     
  		• If "maturity" is not an integer, it is truncated.
     
  		• If "maturity" is not a valid date, then #NUM! is returned.
     
  		• If "discount" = 0, then #NUM! is returned.
     
  		• If "redemption" = 0, then #NUM! is returned.
     
  		• If "basis" < 0, then #NUM! is returned.
     
  		• If "basis" > 4, then #NUM! is returned.
     
  		• If "basis" is left blank, then 0 is used.
     
  		• If "basis" is not an integer, it is truncated.
     
  		• There is also a PRICE() function for ??
     
  		• There is also a PRICEMAT() for a security that pays interest at maturity.

     EXAMPLES
     
     A
    1=PRICEDISC("2/15/1999","3/1/1999",0.0525,100,2) = #VALUE!
    		 
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