How to use COUPNCD Function in Excel

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:

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!