# Documentation/Calc Functions/PRICEDISC

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## Function name:

PRICEDISC

## Category:

Financial Analysis

## Summary:

Calculates the price per 100 currency units of par value of a non-interest- bearing security.

## Syntax:

PRICEDISC(**Settlement**; **Maturity**; **Discount**; **Redemption**; **Basis**)

## Returns:

## Arguments:

**Settlement** is the date of purchase of the security.

**Maturity** is the date on which the security matures (expires).

**Discount** is the discount of a security as a percentage.

**Redemption** is the redemption value per 100 currency units of par value.

**Basis** (optional) is chosen from a list of options and indicates how the year is to be calculated.

Basis | Calculation |
---|---|

0 or missing | US method (NASD), 12 months of 30 days each |

1 | Exact number of days in months, exact number of days in year |

2 | Exact number of days in month, year has 360 days |

3 | Exact number of days in month, year has 365 days |

4 | European method, 12 months of 30 days each |

## Additional details:

## Examples:

A security is purchased on 1999-02-15; the maturity date is 1999-03-01. Discount in per cent is 5.25%. The redemption value is 100. When calculating on basis 2 the price discount is as follows:

=PRICEDISC("1999-02-15"; "1999-03-01"; 0.0525; 100; 2) returns 99.79583.