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: 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

Most financial functions are currently unavailable in Polaris. Learn more about the differences between Anaplan calculation engines.

COUPNCD

## 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

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