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.
COUPNCD(Settlement, Maturity, Frequency)
|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.|
The number of coupon payments per year.
If you use any value other than 1, 2, or 4, the function returns a blank result.
The COUPNCD function returns a date.
- 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.
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.
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.
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.