PRICEDISC
The PRICEDISC function returns the price of a security that is sold at a discount to redemption value and does not pay interest per £100 of redemption (par) value.
PRICEDISC(settle, maturity, annual-yield, redemption, days-basis)
settle: A date/time value or date string representing the trade settlement date, usually one or more days after the trade date.
maturity: A date/time value or date string representing the date when the security matures. maturity must be after the date specified for settle.
annual-yield: A number value representing the annual yield of the security. annual-yield must be greater than 0, and is entered as a decimal (for example, 0.08) or with a per cent sign (for example, 8%).
redemption: A number value representing the redemption value per £100 of par value. redemption is calculated as redemption value / face value * 100 and it must be greater than 0. Often, it is 100, meaning that the security’s redemption value is equal to its face value.
days-basis: An optional modal value value specifying the number of days per month and days per year (days-basis convention) used in the calculations.
30/360 (0 or omitted): 30 days in a month, 360 days in a year, using the NASD method for dates falling on the 31st of a month.
actual/actual (1): Actual days in each month, actual days in each year.
actual/360 (2): Actual days in each month, 360 days in a year.
actual/365 (3): Actual days in each month, 365 days in a year.
30E/360 (4): 30 days in a month, 360 days in a year, using the European method for dates falling on the 31st of a month.
Notes
The currency shown in this function result depends on your Language & Region settings (in System Preferences in macOS and in Settings in iOS and iPadOS), or on your Time Zone & Region settings in iCloud Settings.
Example |
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Suppose you are considering the purchase of a hypothetical discount security. The security purchase will settle on 1 May 2009 (settle) and mature at 100 (redemption) on 30 June 2015 (maturity). The security is said to yield 5.25% (annual-yield). =PRICEDISC("01/05/2009", "30/06/2015", 0.0525, 100, 0) returns approximately 67.6395833333333, which represents the price per $100 of face value that would be paid at the stated yield, assuming the 30/360 days interest convention (days-basis). |