PV or Discount Margin of a Floating Rate Note

[london-cfa]

Is it possible to calculate the PV or Discount Margin for a Floating Rate Note using a calculator? Can’t seem to find any tips on doing this so guessing it’s not possible but want to confirm.
Thanks

 

[S2000magician]

If the coupon on the FRN resets to market the market rate (e.g., LIBOR, but not LIBOR + 100bp), then the value of the FRN itself will be par at each reset date. (Why?) Thus, you need to add the coupon to be paid at the next reset date to par, then discount that sum at the current market rate.
If it resets to a coupon other than the market rate, you’ll have to use the forward curve to estimate the future coupon payments, and the spot curve to discount them to today. Yuck.