Abstract: Applying the equivalent barrier option and the theory of no-arbitrary pricing,this paper studies the option pricing on maximum or minimum of risk assets in Vasicek model,and provides the pricing formula with the  no-random rate and the relationship of European options on maximum or minimum of several assets in Vacicek model,which is a special study case.

Key words: random rate；option on the maximum or minimum of , risk assets；barrier option；no-arbitrary pricing