When convertible notes or SAFEs convert into equity, they do so at a certain price per share. To incentivize and reward early investors, convertible notes or SAFEs often come with a discount, meaning they convert into shares at a price per share that is lower than the price per share paid by new investors (who do not have a discount).

The Discount Price is the price per share of the Standard Preferred Stock sold in the Equity Financing multiplied by the Discount Rate.

The Discount Rate is defined at the top of the SAFE, and usually something like 80%.