Difference between revisions of "Documentation/How Tos/Calc: COUPDAYSNC function"
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=== Example: === | === Example: === | ||
− | <tt>'''COUPDAYSNC("2007-01-25"; "2009-11-15; 2; 4)'''</tt> | + | <tt>'''COUPDAYSNC("2007-01-25"; "2009-11-15"; 2; 4)'''</tt> |
− | : returns <tt>'''110'''</tt>. A | + | : returns <tt>'''110'''</tt>. A bond is originally issued on 15 November 1999, with a ten year term; the date of maturity is 15 November 2009. You subsequently purchase it on the secondary market, with a settlement date of 25 January 2007; Interest is paid half-yearly (<tt>'''frequency'''</tt> is 2); thus interest is due on the 15 May and the 15 November each year, during the bond's term. Using basis 4, there are 110 days from the settlement date 25 January 2007 until the next interest payment on 15 May 07. |
=== See also: === | === See also: === |
Revision as of 03:57, 28 June 2008
COUPDAYSNC
Returns the number of days between the settlement date and the next coupon date.
This function is only available if the Analysis AddIn is installed.
Syntax:
COUPDAYSNC(settlement; maturity; frequency; basis)
- settlement: the date of purchase of the security.
- maturity: the date on which the security matures (expires).
- frequency: number of interest payments per year (1, 2 or 4).
- basis: is chosen from a list of options and indicates how the year is to be calculated. Defaults to 0 if omitted.
- 0 - US method (NASD), 12 months of 30 days each
- 1 - Exact number of days in months, exact number of days in year
- 2 - Exact number of days in month, year has 360 days
- 3 - Exact number of days in month, year has 365 days
- 4 - European method, 12 months of 30 days each
Example:
COUPDAYSNC("2007-01-25"; "2009-11-15"; 2; 4)
- returns 110. A bond is originally issued on 15 November 1999, with a ten year term; the date of maturity is 15 November 2009. You subsequently purchase it on the secondary market, with a settlement date of 25 January 2007; Interest is paid half-yearly (frequency is 2); thus interest is due on the 15 May and the 15 November each year, during the bond's term. Using basis 4, there are 110 days from the settlement date 25 January 2007 until the next interest payment on 15 May 07.