COUPDAYS Function Explained
The COUPDAYS Function in Microsoft Excel calculates the number of days in the coupon period that contains the settlement date. It takes three arguments: settlement, maturity, and frequency. The settlement argument is the security’s settlement date, the maturity argument is the security’s maturity date, and the frequency argument is the number of coupon payments per year. The function returns the number of days in the coupon period that contains the settlement date.
COUPDAYS Function Syntax
COUPDAYS(settlement, maturity, frequency, [basis])
- settlement: 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: The security’s maturity date. The maturity date is the date when the security expires.
- frequency: The number of coupon payments per year. Valid frequency values are 1, 2, or 4.
- basis: The type of day count basis to use. The basis is an optional parameter. The default value is 0 (US (NASD) 30/360). Valid basis values are 0 or 1, where 0 means US (NASD) 30/360 and 1 means Actual/actual.