The Excel COUPDAYBS function returns the number of days from the beginning of the coupon period to the settlement date
Syntax:= COUPDAYBS(settlement, maturity, frequency, [basis])
The COUPDAYBS function syntax has the following arguments:
- Settlement Required. The security’s settlement date. The security settlement date is the date after the issue date when the security is traded to the buyer.
- Maturity Required. The security’s maturity date. The maturity date is the date when the security expires.
- Frequency Required. The number of coupon payments per year. For annual payments, frequency = 1; for semiannual, frequency = 2; for quarterly, frequency = 4.
- Basis Optional. The type of day count basis to use.
|Basis||Day count basis|
|0 or omitted||US (NASD) 30/360|
Example: Let’s look at some Excel COUPDAYBS function examples and explore how to use the COUPDAYBS function as a worksheet function in Microsoft Excel:
Based on the Excel spreadsheet above, the following COUPDAYBS examples would return:
- In Excel, dates are serial numbers.
- All arguments are truncated to integers, so for example, time is ignored.
- If settlement or maturity dates are not valid, COUPDAYBS returns #VALUE!
- If basis is out-of-range , COUPDAYBS returns #NUM!
- If maturity date is not later than settlement date, COUPDAYBS returns #NUM!