redemption: A number value representing the redemption value per $100 of par value. redemption is calculated as redemption value / face value * 100 and it must be greater than 0. Often, it is 100, meaning that the security’s redemption value is equal to its face value.
days-basis: An optional European method for dates falling on the 31st of a month.
The currency shown in this function result depends on your Language & Region settings (in System Preferences in macOS 12 and earlier, System Settings in macOS 13 and later, and Settings in iOS and iPadOS).
Example
Suppose you are considering the purchase of a hypothetical discount security. The security purchase will settle May 1, 2009 (settle) and mature at 100 (redemption) on June 30, 2015 (maturity). The security is said to yield 5.25% (annual-yield).
=PRICEDISC("05/01/2009", "06/30/2015", 0.0525, 100, 0) returns approximately 67.6395833333333, which represents the price per $100 of face value that would be paid at the stated yield, assuming the 30/360 days interest convention (days-basis).