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PRICEDISC Function (LibreOffice Calc)

Financial Intermediate LibreOffice Calc Introduction not established

The PRICEDISC function returns the price per 100 currency units of face value for a discount security. It is essential for valuing Treasury bills, commercial paper, and other zero-coupon discount instruments.

Verification status: Consult the documentation, examples and any stated test scope below. How formula examples are checked

Availability and version history

  • Introduced: Documented by LibreOffice 26.8.1.1; original introduction not established.
  • Availability: Supported in LibreOffice 26.8.1.1, verified against its function registry. This identifies a supported release, not a final working version.
  • Scope: Desktop Calc, using the English function name. Availability in other spreadsheet applications is separate.
  • Checked: 2026-10-14 — function reference; versioned support. Documentation/source check; not a new native test. Existing example-specific test claims below retain their stated scope.
The **PRICEDISC** function calculates the **price per 100 currency units of face value** for a **discount security**—a financial instrument issued below par and redeemed at par, with no coupon payments. It is essential for valuing Treasury bills, commercial paper, and other money‑market instruments.

What the PRICEDISC Function Does

  • Computes the clean price of a discount (zero‑coupon) security
  • Uses discount rate, settlement date, and maturity date
  • Supports multiple day‑count basis systems
  • Works with real dates, serial numbers, and DATEVALUE
  • Fully compatible with Excel’s PRICEDISC function

It is designed to be precise, finance‑grade, and ideal for money‑market valuation.

Syntax

PRICEDISC(settlement; maturity; discount; redemption; [basis])

Arguments

  • settlement:
    The date the security is traded to the buyer.

  • maturity:
    The date the security matures.

  • discount:
    Annual discount rate (e.g., 0.045 for 4.5%).

  • redemption:
    Redemption value per 100 face value (usually 100).

  • basis (optional):
    Day-count convention:

basis Day-count convention
0 US 30/360
1 Actual/Actual
2 Actual/360
3 Actual/365
4 European 30/360

Basic Examples

Price of a Treasury bill (Actual/360)

=PRICEDISC("2024-03-15"; "2024-09-15"; 0.045; 100; 2)

Using Actual/Actual

=PRICEDISC(A1; A2; 0.04; 100; 1)

Using text dates

=PRICEDISC(DATEVALUE(A1); DATEVALUE(A2); Discount; 100)

Advanced Examples

Commercial paper pricing

=PRICEDISC("2024-01-10"; "2024-04-10"; 0.052; 100; 2)

From imported CSV timestamps

=PRICEDISC(DATEVALUE(LEFT(A1;10)); DATEVALUE(LEFT(A2;10)); Discount; Redemption)

From Excel serial dates stored as text

=PRICEDISC(DATE(1899;12;30)+VALUE(A1); DATE(1899;12;30)+VALUE(A2); Discount; Redemption)

Compute discount yield from price (inverse)

=DISCOUNT(Settlement; Maturity; Price; Redemption; Basis)

Compute annualized return

=(Redemption - PRICEDISC(A1;A2;Disc;100;Basis)) / PRICEDISC(A1;A2;Disc;100;Basis)

Compute money‑market equivalent yield

=((Redemption / Price) - 1) * (360 / Days)

Edge Cases and Behavior Details

PRICEDISC returns a numeric value (price per 100 face value)

Accepts:

  • Real dates
  • Serial numbers
  • DATEVALUE outputs

Invalid text → Err:502

Behavior details

  • Settlement < Maturity must hold
  • Basis must be 0–4
  • Discount rate must be ≥ 0
  • Time components ignored
  • Uses clean price (no accrued interest because no coupons)

PRICEDISC of an error → error propagates

Common Errors and Fixes

Err:502 — Invalid argument

Cause:

  • Dates not recognized
  • Basis outside 0–4
  • Discount not numeric

Fix:

  • Wrap dates with DATEVALUE
  • Validate basis
  • Ensure discount is numeric

Err:504 — Invalid date sequence

Cause:

  • Settlement after maturity

Fix:

  • Correct date order

Unexpected price

Cause:

  • Wrong basis
  • Incorrect discount rate
  • Incorrect redemption value

Fix:

  • Verify inputs carefully
  • Confirm day-count convention

Best Practices

  • Use Actual/360 (basis 2) for money‑market instruments
  • Use Actual/365 (basis 3) for UK T‑bills
  • Normalize text dates with DATEVALUE
  • Validate discount rate carefully
  • Use PRICEDISC with DISC and YIELDDISC for full discount‑security modeling
PRICEDISC is your discount‑security pricing engine — essential for T‑bills, commercial paper, and any professional money‑market model.
  • Use DISC to compute discount rate from price
  • Use YIELDDISC to compute yield from price
  • Use PRICEMAT for interest‑at‑maturity securities
  • Use ACCRINTM for zero‑coupon bonds
  • Use YEARFRAC for fractional year calculations

By mastering PRICEDISC and its companion functions, you can build powerful, accurate, and fully professional money‑market valuation models in LibreOffice Calc.