WorksheetFunction.PriceDisc Method
Returns the price per $100 face value of a discounted security.
Namespace: Microsoft.Office.Interop.Excel
Assembly: Microsoft.Office.Interop.Excel (in Microsoft.Office.Interop.Excel.dll)
Syntax
'Declaration
Function PriceDisc ( _
Arg1 As Object, _
Arg2 As Object, _
Arg3 As Object, _
Arg4 As Object, _
Arg5 As Object _
) As Double
'Usage
Dim instance As WorksheetFunction
Dim Arg1 As Object
Dim Arg2 As Object
Dim Arg3 As Object
Dim Arg4 As Object
Dim Arg5 As Object
Dim returnValue As Double
returnValue = instance.PriceDisc(Arg1, _
Arg2, Arg3, Arg4, Arg5)
double PriceDisc(
Object Arg1,
Object Arg2,
Object Arg3,
Object Arg4,
Object Arg5
)
Parameters
Arg1
Type: System.ObjectSettlement - the security's settlement date. The security settlement date is the date after the issue date when the security is traded to the buyer.
Arg2
Type: System.ObjectMaturity - the security's maturity date. The maturity date is the date when the security expires.
Arg3
Type: System.ObjectDiscount - the security's discount rate.
Arg4
Type: System.ObjectRedemption - the security's redemption value per $100 face value.
Arg5
Type: System.ObjectBasis - the type of day count basis to use.
Return Value
Type: System.Double
Remarks
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.
Basis |
Day count basis |
|---|---|
0 or omitted |
US (NASD) 30/360 |
1 |
Actual/actual |
2 |
Actual/360 |
3 |
Actual/365 |
4 |
European 30/360 |
Microsoft Excel stores dates as sequential serial numbers so they can be used in calculations. By default, January 1, 1900 is serial number 1, and January 1, 2008 is serial number 39448 because it is 39,448 days after January 1, 1900. Microsoft Excel for the Macintosh uses a different date system as its default.
The settlement date is the date a buyer purchases a coupon, such as a bond. The maturity date is the date when a coupon expires. For example, suppose a 30-year bond is issued on January 1, 2008, and is purchased by a buyer six months later. The issue date would be January 1, 2008, the settlement date would be July 1, 2008, and the maturity date would be January 1, 2038, which is 30 years after the January 1, 2008, issue date.
Settlement, maturity, and basis are truncated to integers.
If settlement or maturity is not a valid date, PriceDisc returns the #VALUE! error value.
If discount ≤ 0 or if redemption ≤ 0, PriceDisc returns the #NUM! error value.
If basis < 0 or if basis > 4, PriceDisc returns the #NUM! error value.
If settlement ≥ maturity, PriceDisc returns the #NUM! error value.
PriceDisc is calculated as follows:
Figure 1: Equation for PriceDisc method
.jpg "Equation for PriceDisc method")
where:
B = number of days in year, depending on year basis.
DSM = number of days from settlement to maturity.