difference between severity and priority code example

Example: severity vs priority

Bug severity refers to the level of
impact that the bug has on the application
or system while bug priority refers to the level
of urgency in the need for a fix.
• Usually the severity is defined in 
terms of financial loss, damage to 
environment, company's reputation and loss of life.
Priority of a defect is related to 
how quickly a bug should be fixed 
and deployed to live servers.

Defect priority is the amount of urgency 
to fixing that defect. Has fast bug has
to be fixed. We were discussing in grooming meeting.
Developers and PO determines the level of priority