COUPNCD(settlement, maturity, frequency [,basis]) |
Returns the next coupon date after the settlement date. |
| settlement | The settlement date of the security. |
| maturity | The maturity of the security. |
| frequency | The number of coupon payments in a year: 1 = annual 2 = semi annual 4 = quarterly |
| basis | (Optional) The type of day counting to use: 0 = US 30/36 (default) 0 1 = Actual/Actual 2 = Actual/360 3 = Actual/365 4 = European 30/360 |
| REMARKS |
| * The "settlement" is the date a buyer purchases a coupon, such as a bond. * The "maturity" is the date when the security expires. * Dates must be entered as text strings within quotation marks or as serial numbers. * If "settlement" >= "maturity", then #NUM! is returned. * If "settlement" is not an integer, it is truncated. * If "settlement" is not a valid date, then #NUM! is returned. * If "maturity" is not a valid date, then #NUM! is returned. * If "maturity" is not an integer, it is truncated. * If "maturity" has passed, then #VALUE! is returned. * If "frequency" is not an integer, it is truncated. * If "frequency" is any number other than 1, 2 or 4, then #NUM! is returned. * If "basis" is left blank, then 0 is used. * If "basis" is not an integer, it is truncated. * If "basis" < 0, then #NUM! is returned. * If "basis" > 4, then #NUM! is returned. * For the Microsoft documentation refer to support.office.com * In Excel 2003 this function was only available when you had the Analysis ToolPak add-in loaded. |
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1 - What is the date of the next coupon payment if you purchase a bond on 6 Jun 2010 that matures on 31 Dec 2012 and coupons are paid semi-annually and day counting is 30/360.
2 - What is the date of the next coupon payment if you purchase a bond on 4 Feb 2011 that matures on 31 Aug 2014 and coupons are paid semi-annually and day counting is 30/360.
3 - Exactly the same as Example 2 but with day counting of Actual/Actual.
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