PRICEDISC Function in Google Sheets: Formula, Examples & Troubleshooting
Calculate a discount-security price with PRICEDISC in Google Sheets. Audit the redemption discount, compare day-count bases, and separate discount rate from investment yield.
Verification status: See the evidence and test scope described in this guide. How formula examples are checked
Quick answer: =PRICEDISC(settlement,maturity,discount,redemption,basis) calculates a discount security’s price from its discount rate and redemption amount. Use the actual discount-rate input, not an unrelated coupon rate or purchase-price yield.
Verification: NOT_TESTED_IN_GOOGLE_SHEETS. Google sources were reviewed October 17, 2026. Dates, prices, and scenario checks below are independently calculated expectations, not native application output.
Syntax and arguments
=PRICEDISC(settlement, maturity, discount, redemption, [day_count_convention])
The first four inputs are required: settlement date, maturity date, the purchase-time discount rate, and the redemption amount. The optional basis defaults to 0. Google documents codes 0 US NASD 30/360, 1 Actual/Actual, 2 Actual/360, 3 Actual/365, and 4 European 30/360. Its guidance recommends genuine dates rather than text. Google PRICEDISC reference.
The documented discount argument matters even though the page’s short overview uses the broader word yield. Keep those financial labels distinct in your worksheet. This is a non-interest-bearing discount-security model, not a periodic-coupon bond-price model.
Example: price from a 4% discount rate
Enter:
| Cell | Label | Entry |
|---|---|---|
| B2 | Settlement | =DATE(2026,1,15) |
| B3 | Maturity | =DATE(2026,7,15) |
| B4 | Discount rate | 4% |
| B5 | Redemption | 100 |
| B6 | Basis | 3 |
- In B8 enter
=PRICEDISC(B2,B3,B4,B5,B6). - Display B8 as a number with six decimals.
- The expected price is approximately 98.016438 for the stated Actual/365 inputs.
- Check the actual interval with
=B3-B2: 181 days.
The independent discount-price audit is:
=B5*(1-B4*(B3-B2)/365)
The 181-day discount amount is approximately 1.983561644. Subtracting it from redemption 100 gives 98.016438356. This algebra explains the model for the simple dates used here; it is not a claim about Google’s internal numerical code.
The 4% rate is annualized under the selected basis. Subtracting 4 directly from 100 would instead treat a full year’s discount as though it applied to this shorter interval.
Advanced use: compare rate and basis assumptions
For the same dates and redemption, increase the discount input from 4% to 6%. The independently expected Actual/365 price falls to approximately 97.024658. A higher required discount subtracts a larger amount from the same redemption value.
To compare bases without altering the rate, use:
=PRICEDISC(B2,B3,B4,B5,0)
=PRICEDISC(B2,B3,B4,B5,2)
=PRICEDISC(B2,B3,B4,B5,3)
Expected prices are 98, 97.988889, and 98.016438 respectively. For these ordinary dates, the first convention uses 180/360, the second 181/360, and the third 181/365.
If the stated redemption amount is scaled from 100 to 10,000, the same mathematical model scales the basis-3 expected price to approximately 9,801.643836. Keep the amount convention explicit when comparing a quote and a position total. A price alone does not disclose how many securities are held.
Discount rate versus return on the price paid
For the main example, the discount relative to redemption is (100-price)/100. A holding-period return relative to the purchase price is (100-price)/price. They use different denominators.
Google lists YIELDDISC as the separate function for a discount security’s annual yield based on price. Do not substitute a yield estimate for PRICEDISC’s discount input without checking that it is the required measure. Likewise, PRICE is the separately documented periodic-interest function; it has different inputs.
Errors and troubleshooting
Rate entered as 4: for an intended four percent, use 4% or 0.04. Keep rate inputs percentage-formatted and amounts number-formatted.
Unexpected basis difference: the omitted default is 0, not Actual/365. Record the basis next to the assumptions.
Wrong dates: use DATE with numeric components and confirm maturity follows settlement. A date-shaped text label is not proof of a valid date value.
A nonpositive model price: in the simple audit, 1-discount*year_fraction must remain positive for a positive price. Review extreme rates and horizons instead of accepting an economically meaningless output. This is a model-domain check, not a claim of a particular Sheets error code.
Month-end boundaries or invalid inputs: the reviewed help does not establish every date adjustment, coercion rule, or exact error label. Do not extend the simple-date audit into a claimed complete implementation of all bases.
Support and references
Google currently documents PRICEDISC. Introduction, retirement, and last working version are unknown from the reviewed evidence. No other application’s implementation is used to establish Google behavior. The example contains no live prices and is not investment advice.
Reviewed October 17, 2026: Google PRICEDISC and Google DATE.