The COUPNCD function calculates the next coupon date after the settlement date. The function arguments are:
settlement |
is the settlement date of the security, expressed as a date code |
maturity |
is the maturity date of the security, expressed as a date code |
frequency |
is the number of coupon payments per year (1 = annually; 2 = biannually; 4 = quarterly) |
basis |
is the type of day count basis used, where basis is one of the following: |
Basis |
Day count basis |
0 |
US 30/360 |
1 |
Actual/actual |
2 |
Actual/360 |
3 |
Actual/365 |
4 or omitted |
European 30/360 |
For example, you have been issued with a bond that comes to maturity on August 31st 1998, the settlement date is July 15th 1997, the coupon payments are quarterly, and the day count basis is actual/actual. Using the formula
COUPNCD(35625, 36037, 4, 1)
returns August 31st 1997 or 35672 as the next coupon date after the settlement date.
See also: