COUPNCD

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

Description: Computes the next coupon date after the settlement date.

Arguments:

Name

Type

Description

settlement

number

The security's settlement date.

maturity

number

The security's maturity date.

frequency

number

The number of coupon payments per year. For annual payments, frequency is 1; for semiannual payments, frequency is 2; for quarterly payments, frequency is 4. frequency is truncated to an integer.

basis

number

The truncated integer type of day count basis to use, as follows:

Value	Day Count Basis
0 or omitted	US (NASD) 30/360
1	Actual/actual
2	Actual/360
3	Actual/365
4	European 30/360

Time information in the date arguments is ignored.

Return Type and Value: number – The next coupon date after the settlement date, as a date.

However, if

• settlement or maturity is out of range for the current date base value, #NUM! is returned.

• settlement ≥ maturity, #NUM! is returned.

• frequency is any number other than 1, 2, or 4, #NUM! is returned.

• basis < 0 or basis > 4, #NUM! is returned.

[Example:

COUPNCD(DATE(2007,1,25),DATE(2008,11,15),2,1) results in 15-May-2007

end example]