MicroStrategy ONE
Pricedisc (Price, Discounted)
Returns the price, per $100 face value, on a discounted security.
Syntax
Pricedisc <Basis> (Settlement, Maturity, DiscRate, Redemption)
Where:
Settlement is the settlement date. This is the date, after issue, on which the security is traded.
Maturity is the maturity date. This is the date on which the security expires.
DiscRate is the discount rate.
Redemption is the redemption value per $100 of face value.
Basis is a parameter that indicates the time-count basis to be used. The default value for Basis is 0, which is typically used by American agencies and assumes 30-day months and 360-day years (30/360). Possible values for this parameter are listed in the following table.
| Basis value | Application |
|
0 (30/360) |
Assumes 30 days in each month, 360 days in each year. |
|
1 (actual/actual) |
Assumes actual number of days in each month, actual number of days in each year. |
|
2 (actual/360) |
Assumes actual number of days in each month, 360 days in each year. |
|
3 (actual/365) |
Assumes actual number of days in each month, 365 days in each year. |
|
4 (30/60) |
Used by European agencies, assumes the same values as “0” for American institutions. |
Expression
Where:
B is the number of days in a year (see Basis)
DSM is the number of days from settlement to maturity
Usage Notes
If Settlement or Maturity is not an integer, it is truncated.
The engine returns an empty cell if:
- Settlement or Maturity is not a valid date
- DiscRate £ 0 or Redemption £ 0
- Settlement ³ Maturity
The Settlement date and the Maturity date should be included within single quotations in the expression for the expression to be considered as a valid expression.