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: - 1 for annual
- 2 for semi-annual
- 4 for quarterly
If you use any value other than 1, 2, or 4, the function returns a blank result. |

The COUPNCD function returns a date.

## 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.

## Calculation engine functionality differences

## Excel equivalent

## Related Anaplan functions

## 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 |