1. Calculation functions
2. All Functions
3. Financial functions
4. COUPNCD

Use the COUPNCD function to calculate the next coupon date after the settlement date.

## Syntax

COUPNCD(settlement, maturity, frequency)

The COUPNCD function has the following 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: 1 for annual, 2 for semi-annual, or 4 for quarterly.

 Returns Date

## Constraints

The COUPNCD function has the following 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; and
• the frequency must be either 1 (annual), 2 (semi-annual), or 4 (quarterly).

## Examples

The following tables show some example formulas using the COUPNCD function.

You can reference line items or list properties in your formula.

 Formula Description Result COUPNCD(DATE(2015, 1, 15), DATE(2018, 1, 15), 1) This example calculates the next coupon date for a bond with a frequency of 1 (annual). The settlement date is 01/15/2015 and the maturity date is 01/15/2018. 01/15/2016 COUPNCD(DATE(2015, 1, 15), DATE(2018, 1, 15), 4) In this example, the next coupon date is calculated for a bond with a frequency of 4 (quarterly). The example uses a settlement date of 01/15/2015 and a maturity date of 01/15/2018. 04/15/2015