Documentation/How Tos/Calc: COUPDAYS function
From Apache OpenOffice Wiki
COUPDAYS
Returns the number of days in the coupon period that contains the settlement date.
This function is only available if the Analysis AddIn is installed.
Syntax:
COUPDAYS(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:
COUPDAYS("2007-01-25"; "2009-11-15"; 2; 4)
- returns 180. 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 180 days (= 6 * 30) in the interest period in which the settlement date falls (16 November 2006 to 15 May 2007 inclusive = 6 months).
See also:
Issues:
- Both Calc and Excel can return a non-integer number of days (including a fraction) - for example COUPDAYS("2001-01-25"; "2001-11-15; 2; 3) returns 182.5 (= 365/2).