Documentation/Calc Functions/COUPNCD
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Function name:
COUPNCD
Category:
Financial Analysis
Summary:
Calculates the next coupon date following a settlement.
Syntax:
COUPNCD(Settlement; Maturity; Frequency[; Basis])
Returns:
Returns the date of the first interest date after the settlement date. Format the result as a date.
Arguments:
Settlement is a date or a reference to a cell containing that date which is the date at which the interest accrued up until then is to be calculated.
Maturity is a date or a reference to a cell containing that date which is the date on which the security matures (expires).
Frequency is a positive integer or a reference to a cell containing that integer which is the number of interest payments per year (1, 2 or 4).
Frequency | Frequency |
---|---|
1 | Annual |
2 | Semiannual |
4 | Quarterly |
Basis is a positive integer from 0 to 4 or a reference to a cell containing that integer which is chosen from a list of options and indicates how the year is to be calculated. For more information, visit Wikipedia's Day count convention page.
Basis | Calculation |
---|---|
0 or missing | 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. |
- If either Settlement or Maturity are not valid dates then the function returns an value(#VALUE!) error.
- If Settlement date is after the Maturity date then the function returns an error value.
- If Frequency, and Basis are non-integer values, then the function uses their floor value, i.e. they are truncated to an integer value.
- After truncation if Frequency is any number except 1,2 or 4, then the function returns an error value.
- After truncation if Basis is ny number except 0,1,2,3,4 or missing(passed as empty argument or not passed at all),then the function will return an error value.
Additional details:
None
Examples:
Formula | Description | Returns |
---|---|---|
=COUPNCD("2001-01-25"; "2001-11-15"; 2; 3) | A security is purchased on 2001-01-25; the date of maturity is 2001-11-15. Interest is paid half-yearly (frequency is 2). Using daily balance interest calculation (basis 3) when is the next interest date? | 15/05/01 or 2001-05-15 |
=COUPNCD("2001-01-25"; "2001-11-15"; 2; ) | A security is purchased on 2001-01-25; the date of maturity is 2001-11-15. Interest is paid half-yearly (frequency is 2). Using daily balance interest calculation (basis 0 by default) when is the next interest date? | 15/05/01 or 2001-05-15 |
=COUPNCD("2001-01-25.05"; "2001-11-15"; 2; 3) | The function returns an error value if either Settlement or Maturity are not valid dates. | #VALUE! |
=COUPNCD("2002-01-25"; "2001-11-15"; 2; 3) | The function returns an error when Settlement date is after the Maturity date. | Err:502 |
Related LibreOffice functions:
ODF standard:
Equivalent Excel functions:
COUPNCD