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:
|
| 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 |