COUPDAYSNC Function Explained
The COUPDAYSNC Function in Microsoft Excel calculates the number of days from the settlement date to the next coupon date, based on a 360-day year (including 30 days a month, with the exception of February in a leap year). It takes three arguments: settlement date, maturity date, and frequency.
COUPDAYSNC Function Syntax
COUPDAYSNC(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. For annual payments, frequency = 1; for semiannual, frequency = 2; for quarterly, frequency = 4.
- basis: The type of day count basis to use. The basis is an optional argument. The default value is 0 (NASD).