This article describes the formula syntax and usage of the COUPDAYBS function in Microsoft Excel.


The COUPDAYBS function returns the number of days from the beginning of a coupon period until its settlement date.


COUPDAYBS(settlement, maturity, frequency, [basis])

Important: Dates should be entered by using the DATE function, or as results of other formulas or functions. For example, use DATE(2008,5,23) for the 23rd day of May, 2008. Problems can occur if dates are entered as text.

The COUPDAYBS function syntax has the following arguments:

BasisDay count basis
0 or omittedUS (NASD) 30/360
4European 30/360



Copy the example data in the following table, and paste it in cell A1 of a new Excel worksheet. For formulas to show results, select them, press F2, and then press Enter. If you need to, you can adjust the column widths to see all the data.

25-Jan-11Settlement date
15-Nov-11Maturity date
2Semiannual coupon (see above)
1Actual/actual basis (see above)
=COUPDAYBS(A2,A3,A4,A5)The number of days from the beginning of the coupon period to the settlement date, for a bond with the above terms71

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