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# prdisc

Price of discounted security

## Syntax

```Price = prdisc(Settle, Maturity, Face, Discount, Basis)
```

## Arguments

 Settle Enter as serial date number or date string. Settle must be earlier than Maturity. Maturity Enter as serial date number or date string. Face Redemption (par, face) value. Discount Bank discount rate of the security. Enter as decimal fraction. Basis (Optional) Day-count basis of the instrument. A vector of integers. 0 = actual/actual (default)1 = 30/360 (SIA)2 = actual/3603 = actual/3654 = 30/360 (BMA)5 = 30/360 (ISDA)6 = 30/360 (European)7 = actual/365 (Japanese)8 = actual/actual (ICMA)9 = actual/360 (ICMA)10 = actual/365 (ICMA)11 = 30/360E (ICMA) 12 = actual/actual (ISDA)13 = BUS/252For more information, see basis.

## Description

Price = prdisc(Settle, Maturity, Face, Discount, Basis) returns the price of a security whose yield is quoted as a bank discount rate (for example, U. S. Treasury bills).

## Examples

expand all

### Calculate the Price of a Security Whose Yield is Quoted as a Bank Discount Rate

This example shows how to return the price of a security whose yield is quoted as a bank discount rate (for example, U. S. Treasury bills).

```Settle = '10/14/2000';
Maturity = '03/17/2001';
Face = 100;
Discount = 0.087;
Basis = 2;

Price = prdisc(Settle, Maturity, Face, Discount, Basis)
```
```Price =

96.2783

```

## References

Mayle, Standard Securities Calculation Methods, Volumes I-II, 3rd edition. Formula 2.