DISC Function (OpenOffice Calc)

• Introduced: First release not established; documented by OpenOffice.org 3.3.
• Supported in: Apache OpenOffice 4.1.16; this is a verified release, not a final supported version.
• Scope: Desktop Calc, English function names and semicolon-separated formulas.
• Checked: October 14, 2026. Eight ordinary reference formulas were recalculated from generated ODF in 4.1.16 on Linux x86-64, Build 9816. Source and independent arithmetic were checked.

DISC returns an annualized discount rate based on the redemption amount. Its formula is (1-Price/Redemption)/t, where t is the release’s YEARFRAC helper for the selected basis. This is different from annualizing the gain relative to the amount invested. Release implementation.

DISC(Settlement;Maturity;Price;Redemption[;Basis])

• Settlement, Maturity: valid dates with Settlement<Maturity.
• Price, Redemption: positive amounts on the same scale, commonly per 100 of face value.
• Basis is optional and defaults to 0: 0 US 30/360, 1 actual/actual, 2 actual/360, 3 actual/365, or 4 European 30/360. These labels do not guarantee identical endpoint adjustments across every function in this release; the helper used here is identified below.

The native column contains saved 4.1.16 results; independent references use high-precision arithmetic and the stated source rules. Values are shown to twelve decimal places where needed. Enter DATE expressions directly rather than locale-dependent date text.

From January 1 to July 1, 2024, with Price=95 and Redemption=100, Basis 0 uses t=0.5 and gives 0.10, or 10%. The discount is 5 relative to redemption 100, annualized over half a year.

Basis 2 instead uses 182/360 and gives approximately 0.098901098901. Basis 1 uses 182/366 and gives approximately 0.100549450549. Changing the day-count basis changes the annualized number even though the cash amounts and dates are unchanged.

For the same t, investment-based simple return is (Redemption/Price-1)/t, which exceeds the redemption-based discount when 0<Price<Redemption. In the half-year example that investment-based return is approximately 0.105263157895.

Do not assume DISC is a universal inverse of PRICEDISC in this release. DISC uses GetYearFrac; PRICEDISC uses GetYearDiff, whose month-end adjustments differ. For February 29 to March 31, 2024, Basis 0, DISC uses 30/360 and returns 0.6 for 95 and 100, while the other helper uses 31/360. The native examples retain that distinction.

The source requires positive Price and Redemption and increasing dates. The ordinary fixture uses five documented bases, valid month-end dates and an omitted-basis example. Invalid dates, invalid bases, text parsing and extreme amounts were not executed.

Treat Basis 1 as the pinned implementation’s rule, not an assumed universal market convention: its YEARFRAC helper uses a start-year denominator and anniversary remainder. Confirm the applicable convention before using the result in a valuation workflow. A discount rate is not automatically a yield-to-maturity model for a coupon-paying instrument.

YEARFRAC, INTRATE, PRICEDISC.

• Function-specific release implementation
• GetYearFrac date helper
• GetDiffParam date helper
• GetDiffDate360 date helper
• Optional basis conversion and validation

The generated ODF produced the informational load warning “Not all attributes could be read.” The sheet was hard-recalculated and saved separately. All eight ordinary function identities, inputs and results were reconciled; a stale SUM cache changed from 999999 to 3 and an uncached SUM returned 7. This establishes the stated examples, not every workbook style or invalid input. Other explanatory identities are independent calculations. The authoring-tool XLSX was not executed in OpenOffice, and its preview values are not the native results reported here.