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In excel PRICE function there are constants DSC,E,A what are these values? It is very confusing when there are more than one coupon period available for the bond.

excel price function

They have provided explanation for DSC,E,A as follows.

DSC = number of days from settlement to next coupon date.

E = number of days in coupon period in which the settlement date falls.

A = number of days from beginning of coupon period to settlement date.

I am currently implementing a trading platform and i have given the following information.

  • Dated Date - 1-Jan-10
  • Coupon date before the settlement date - 1-Jul-12
  • First Coupon Date after settlement date - 1-Jan-13
  • Maturity Date - 1-Jan-17
  • Yld - 7.5000%
  • Frequency - 2
  • rate - 12%
  • redemption - 100
  • Settlement Date - 15-Aug-12
  • N - 9 coupon periods available

but i am struggling to find values for DSC,E and A. Please be kind enough to help me put on this.

Thilip Michael
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1 Answers1

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According to my calculations:

DSC = 139 (Next coupon date - settlement date)
E = 184 (Next coupon date - current coupon date)
A = 45 (Settlement date - current coupon date)
Robby Cornelissen
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  • Hi Robby, is DSC=139 and E=184 thorough out the summation? Because according to the definition i feel like it should change for each loop. – Thilip Michael Sep 16 '15 at 12:56