Returns the coupon date next after the settlement date.
This function is only available if the Analysis AddIn is installed.
COUPNCD(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 the calendar system to use. Defaults to 0 if omitted.
- 0 - US method (NASD), 12 months of 30 days each
- 1 - Actual number of days in months, actual number of days in year
- 2 - Actual number of days in month, year has 360 days
- 3 - Actual number of days in month, year has 365 days
- 4 - European method, 12 months of 30 days each
COUPNCD("2007-01-25"; "2009-11-15"; 2; 3)
- returns 15 May 2007 as a date-time serial number; choose a format to display the date as you prefer. 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. The next interest date after the settlement date 25 January 2007 is therefore 15 May 2007.