BXGY Discount - Get 1 is Equal or Lesser Value?

We are wanting to use the Buy X Get Y discount as a Buy 2 Get 1 Free discount. If we do this, will the free one be of equal or lesser value?

I currently have it setup as an automatic discount where they must buy 2 from the collection to then get 1 free from the same collection, but the price varies on the products.

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@Shopify_77 can you please respond? There is nothing noted about this on your discounts page.