This article describes the formula syntax and usage of the PRICEDISC function in Microsoft Excel.

Description

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

Syntax

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

Important: Dates should be entered by using the DATE function, or as results of other formulas or functions. For example, use DATE(2008,5,23) for the 23rd day of May, 2008. Problems can occur if dates are entered as text.

The PRICEDISC function syntax has the following arguments:

BasisDay count basis
0 or omittedUS (NASD) 30/360
1Actual/actual
2Actual/360
3Actual/365
4European 30/360

Remarks

Example

Copy the example data in the following table, and paste it in cell A1 of a new Excel worksheet. For formulas to show results, select them, press F2, and then press Enter. If you need to, you can adjust the column widths to see all the data.

DataArgument description
2/16/2008Settlement date
3/1/2008Maturity date
5.25%Percent discount rate
$100Redemption value
2Actual/360 basis
FormulaDescriptionR esult
=PRICEDISC(A2,A3,A4,A5,A6)The bond price, for the bond with the arguments specified in cells A2:A6.$99.80

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