# 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

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### 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.