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  4. COUPDAYSNC

Use the COUPDAYSNC function to calculate the number of coupon days from the settlement date until the next coupon date. The number returned excludes the settlement date and includes the last day of the next coupon period.

Syntax

COUPDAYBS(Settlement, Maturity, Frequency[, basis])

Arguments

ArgumentData typeDescription
Settlement (required)DateThe bond settlement date: The date the bond is traded to the buyer.
Maturity (required)DateThe bond maturity date: The date when the bond expires.
Frequency (required)Number

The number of coupon payments per year.

Enter:

  • 1 for annual
  • 2 for semi-annual
  • 4 for quarterly
BasisNumber

The basis determines how many days exist in a year.

A full year has:

  • 360 days when basis US (NASD) 30/360, Actual/360, and EUR 30/360 are used
  • 365 days when basis Actual/365 is used
  • 365 or 366 days when Actual/Actual is used

US 30/360 is the default basis for COUPDAYS. It can also be specified by entering 0.

To use a different type of day count basis, enter:

  • 1 for Actual/Actual
  • 2 for Actual/360
  • 3 for Actual/365
  • 4 for European 30/360

Learn about the conventions used to calculate the day count for basis.

The COUPDAYSNC function returns a number.

Additional information

When the US 30/360 basis is used, the conventions used to calculate the days after settlement will vary depending on whether the start date and end date are independent. Where the end date is dependent on the start date, the full set of NASD day count conventions apply.

Constraints

  • The settlement and maturity dates must be valid dates between 01/01/1900 and 12/31/2399.
  • The maturity date must be later than the settlement date.
  • The frequency must be either 1 (annual), 2 (semi-annual), or 4 (quarterly).
  • The basis, when specified, must be either 0 (US (NASD) 30/360), 1 (Actual/Actual), 2 (Actual/360), 3 (Actual/365), or 4 (EUR 30/360).

Calculation engine functionality differences

Most financial functions are unavailable in Polaris, but you can use FV, IPMT, NPER, PPMT, and PV. Learn more about the differences between Anaplan calculation engines.

Excel equivalent

COUPDAYSNC

Related Anaplan functions

Examples

This example shows how the number of days from the settlement date until the next coupon date can be calculated when a basis is specified.

FormulaDescriptionResult
COUPDAYSNC(DATE(2018, 1, 15), DATE(2021, 1, 31), 1, 1)

This formula uses:

  • a settlement date of 01/15/2018
  • a maturity date of 01/31/2021
  • a frequency of 1 (annual)
  • a basis of 1 (Actual/Actual)
16

In this example, the number of days from the settlement date until the next coupon date is calculated without specifying a basis. As a result, the basis defaults to US 30/360.

FormulaDescriptionResult
COUPDAYSNC(DATE(2018, 1, 15), DATE(2021, 1, 31), 4)

This formula uses:

  • a settlement date of 01/15/2018
  • a maturity date of 01/31/2021
  • a frequency of 4 (quarterly)
15

Disclaimer

We may update our documentation occasionally, but will only do so in a way that does not negatively affect the features and functionality of the Anaplan service.