Microsoft Office Tutorials and References
In Depth Information
COUPDAYS
Figure 6.5
The COUPDAYBS
function returns the
number of days from
the start date of the
coupon period to the
settlement.
A
This function was
built with cell
referencing
COUPDAYS
COUPDAYS returns the number of days in the period that contains the coupon period settlement date.
=COUPDAYS(settlement,maturity,frequency,basis)
The COUPDAYS function is found only if the Analysis Toolpak is installed. It must be turned on
using the Add-Ins command from the Tools menu. In Figure 6.6 you’ll see that the bond
settlement date (the date a buyer purchases a coupon such as a bond) is 5/15/1999, and the maturity
date (the date the bond expires) is 7/15/2000. The frequency is semianual and the basis is
Actual/actual. The number of days between the coupon day and the settlement is 181. By using
cell referencing instead of applying the dates in the formula, your formula becomes more flexible.
The security’s settlement date. This is the date after the issue date when
the security is traded to the buyer.
SETTLEMENT
The security’s maturity date. The date when the security expires.
MATURITY
The number of payments per year—Annual = 1; Semiannual = 2; Quarterly = 4.
FREQUENCY
The day count basis to use. If omitted, 0 is used. See additional choices
in Figure 6.6.
BASIS
Figure 6.6
COUPDAYS returns the
number of days in the
period that contains
the coupon period
settlement date.
A
Another function
built with cell
referencing
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