Calculates the price per 100 currency units of par value of a non-interest- bearing security.
PRICEDISC(Settlement; Maturity; Discount; Redemption; Basis)
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.
|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|
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.