PRICEDISC

What a security sold at a discount is worth per 100 of face value.

Group: Financial. Compatible with DAX.

Syntax

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

Parameter	Type	Description
`settlement`	Date	The day the buyer takes the security over; later than its issue.
`maturity`	Date	The day the security ends and its face value is repaid.
`discount`	Number	The discount rate a year, as a decimal.
`redemption`	Number	What is repaid at maturity, in percent of the face value: usually 100.
`basis`	Whole number optional	The day count, by number: US 30/360 (0, when left out), actual/actual (1), actual/360 (2), actual/365 (3) or European 30/360 (4).

Returns

Number. What the security costs, in percent of its face value.

Remarks

It is redemption × (1 − discount × the year fraction from settlement to maturity).
A discount or redemption of 0 or less, or settlement on or after maturity, is an error.
The dates are taken as whole days. basis is rounded to a whole number first; outside 0 to 4 it is an error.

Examples

Commercial paper at a 3.5 % discount

182 days on actual/360; DISC gives the rate back from the price.

EVALUATE
ROW (
    "Price", PRICEDISC ( DATE ( 2026, 11, 2 ), DATE ( 2027, 5, 3 ), 0.035, 100, 2 ),
    "Back to the rate", DISC ( DATE ( 2026, 11, 2 ), DATE ( 2027, 5, 3 ), PRICEDISC ( DATE ( 2026, 11, 2 ), DATE ( 2027, 5, 3 ), 0.035, 100, 2 ), 100, 2 )
)

Price	Back to the rate
98.2305555555556	0.035

DISC, YIELDDISC, TBILLPRICE, PRICE.

Last updated 3 November 2026 · OpenBI Studio 0.3.74