The Excel COUPNCD function returns the next coupon date after the settlement date

**Syntax**:= COUPNCD(settlement, maturity, frequency, [basis])

The COUPNCD 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 |

1 | Actual/actual |

2 | Actual/360 |

3 | Actual/365 |

4 | European 30/360 |

**Example**: Let’s look at some Excel COUPNCD function examples and explore how to use the COUPNCD function as a worksheet function in Microsoft Excel:

**Syntax**: =COUPNCD(B1,B2,B3,B4)

**Result**:

Based on the Excel spreadsheet above, the following COUPNCD examples would return:

**Syntax**: =COUPNCD(DATE(2019,3,25),DATE(2019,12,15),2,1)

**Result**: 15/06/2019

**Syntax**: =COUPNCD(DATE(2019,3,25),DATE(2019,12,15),B3,B4)

**Result**: 15/06/2019

**Note**:

- 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, COUPNCD returns #VALUE!
- If basis is out-of-range , COUPNCD returns #NUM!
- If maturity date is not later than settlement date, COUPNCD returns #NUM!