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

Description

Returns a number that represents the next coupon date after the settlement date.

Syntax

COUPNCD(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 COUPNCD function syntax has the following arguments:

BasisDay count basis
0 or omittedUS (NASD) 30/360
1Actual/actual
2Actual/360
3Actual/365
4European 30/360

Remarks

Example

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.

DataDescription
25-Jan-11Settlement date
15-Nov-11Maturity date
2Semiannual coupon (see above)
1Actual/actual basis (see above)
FormulaDescriptionResult
=COUPNCD(A2,A3,A4,A5)The next coupon date after the settlement date, for a bond with the above terms15-May-11

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