Use the COUPDAYS function to return the number of coupon days in the coupon period that contains the settlement date.
Syntax
COUPDAYS(Settlement, Maturity, Frequency[, basis])
Arguments
| Argument | Data type | Description |
| Settlement (required) | Date | The bond settlement date: The date the bond is traded to the buyer. |
| Maturity (required) | Date | The bond maturity date: The date when the bond expires. |
| Frequency (required) | Number | The number of coupon payments per year. Enter:
|
| Basis | Number | The basis determines how many days exist in a year. A full year has:
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:
Learn about the conventions used to calculate the day count for basis. |
The COUPDAYS function returns a number.
Calculation engine functionality differences
Financial functions are currently unavailable in Polaris. Learn more about the differences between Anaplan calculation engines.
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).
Excel equivalent
Examples
This example shows how the number of days in the coupon period that contains the settlement date can be calculated when a basis is specified.
| Formula | Description | Result |
COUPDAYS(DATE(2018, 1, 15), DATE(2021, 1, 15), 1, 1) | This formula uses:
| 365 |
In this example, the number of days in the coupon period that contains the settlement date is calculated without specifying a basis. As a result, the basis defaults to US 30/360.
| Formula | Description | Result |
COUPDAYS(DATE(2018, 1, 15), DATE(2021, 1, 15), 4) | This formula uses:
| 90 |
