The COUPNCD function calculates the next coupon date after a settlement date.
For example, you can use the COUPNCD function to identify the next coupon date after you purchase a bond.
Syntax
COUPNCD(Settlement, Maturity, Frequency)
Arguments
| Argument | Data type | Description |
| Settlement (required) | Date | The bond settlement date, when the bond is traded to the buyer. |
| Maturity (required) | Date | The bond maturity date, when the bond expires. |
| Frequency (required) | Number | The number of coupon payments per year. Enter:
If you use any value other than 1, 2, or 4, the function returns a blank result. |
The COUPNCD function returns a date.
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 between 01/01/1900 and 12/31/2399.
- The maturity date must be later than the settlement date.
Excel equivalent
Examples
In this example, two formulas calculate the next coupon date. The first formula uses 1 for the Frequency argument, so the coupon is paid annually. The second formula uses 4 for the Frequency argument, so the coupon is paid quarterly.
| Formula | Description | Result |
COUPNCD(DATE(2021, 1, 15), DATE(2024, 1, 15), 1) | This example calculates the next coupon date for a bond with a frequency of 1 (annual). The settlement date is 01/15/2021 and the maturity date is 01/15/2024. | 01/15/2022 |
COUPNCD(DATE(2021, 1, 15), DATE(2024, 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 01/15/2021 and a maturity date of 01/15/2024. | 04/15/2021 |
