### 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 = annual2 = semi annual4 = quarterly basis (Optional) The type of day counting to use:0 = US 30/36 (default) 01 = Actual/Actual2 = Actual/3603 = Actual/3654 = 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.

 A 1 =COUPNCD("6 Jun 2010","31 Dec 2012",2,0) = 30/06/2010 2 =COUPNCD("4 Feb 2011","31 Aug 2014",2,0) = 28/02/2011 3 =COUPNCD("4 Feb 2011","31 Aug 2014",2,1) = 28/02/2011 4 =COUPNCD("25/1/2007","15/11/2008",2,1) = 15/05/2007 5 =COUPNCD("1/25/1998","11/15/1999",2,1) = #VALUE!

#### Expand ...

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.