Daily DAX : Day 413 PRICEDISC

Power BI DAX Function: PRICEDISC

Calculates the price per $100 face value of a discounted security (e.g., Treasury bill or zero-coupon bond) that is sold at a discount and does not pay periodic interest.

Syntax

PRICEDISC(
    Settlement,      -- Date when the security is purchased
    Maturity,        -- Date when the security matures
    Discount,        -- Discount rate of the security (as decimal, e.g., 5% = 0.05)
    Redemption,      -- Redemption value per $100 face value (usually 100)
    [Basis]          -- Optional: Day count basis (0 = US 30/360, 1 = Actual/Actual, etc.)
)

Parameters

Parameter	Description	Typical Value
Settlement	Date the buyer purchases the security	Date
Maturity	Date the security matures	Date
Discount	Annual discount rate (expressed as decimal)	e.g., 0.052 for 5.2%
Redemption	Value paid at maturity per $100 face value	Usually 100
Basis (optional)	Day count convention	0 (default), 1, 2, 3, or 4

Common Day Count Basis

• 0 – US (NASD) 30/360 (most common)
• 1 – Actual/Actual
• 2 – Actual/360
• 3 – Actual/365
• 4 – European 30/360

Example

A Treasury bill is purchased on 2025-03-01, matures on 2025-08-29, has a discount rate of 5.25%, and redeems at $100.

T-Bill Price = 
PRICEDISC(
    DATE(2025,3,1),     -- Settlement
    DATE(2025,8,29),    -- Maturity
    0.0525,             -- Discount rate
    100,                -- Redemption
    0                   -- Basis: US 30/360
)

Result ≈ 97.42 → You pay $97.42 today for a security worth $100 in 6 months.

Typical Use Cases

• Valuing Treasury bills (T-bills)
• Pricing commercial paper
• Calculating zero-coupon bond prices
• Building fixed-income dashboards in Power BI
• Comparing yields of discounted instruments

Note: PRICEDISC is specifically for securities that do not pay periodic interest. For bonds that pay coupons, use PRICE function instead.