Microsoft Office Tutorials and References
In Depth Information
COUPDAYSNC
COUPDAYSNC
COUPDAYSNC returns the number of days between the settlement date to the next coupon date.
=COUPDAYSNC(settlement,maturity,frequency,basis)
The COUPDAYSNC function is found only if the Analysis Toolpak is installed. It must be turned on
using the Add-Ins command from the Tools menu. Notice Figure 6.7. 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 7/15/2001. The frequency is semiannual and the basis is Actual/actual.
The number of days from the coupon settlement date to the next coupon date is 61. 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 6.7.
BASIS
Figure 6.7
The COUPDAYSNC
function returns the
number of days
between the settlement
date to the next
coupon date.
A
The function
resulting from
cell referencing
COUPNCD
COUPNCD returns the number that represents the next coupon date after the settlement date.
=COUPNCD(settlement,maturity,frequency,basis)
The COUPNCD function is found only if the Analysis Toolpak is installed. It must be turned on
using the Add-Ins command from the Tools menu. The cell in which the function is in must
also be in a date format. In Figure 6.8, 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
9/15/2000. The frequency is semiannual and the basis is Actual/actual. The next coupon
date after the settlement date is 9/15/1999. By using cell referencing instead of applying the
dates in the formula, your formula becomes more flexible.
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