Easy Explanation Notes with Examples

COUPDAYBS function


The COUPDAYBS function calculates the number of days from the start of a coupon period to the settlement date of the security and it is categorized as a financial function.


COUPDAYBS(settlement, maturity, frequency, [basis])

The function has the following arguments:

settlement – Required. The date on which the security will be acquired.

maturity – Required. The security’s expiry date.

frequency – Required. The frequency of coupon payment per year. Use the table below for guide:

For  Frequency
Annual Payments 1
Semiannual 2
Quarterly 4

[basis] – Optional. The day count basis to be used in the calculation.

Basis Day count basis
0 or omitted US (NASD) 30/360
1 Actual/actual
2 Actual/360
3 Actual/365
4 European 30/360



Function Error

Error If 
 #NUM! the settlement date is greater than or equal to (≥) the maturity date.
the frequency argument provided by the user is not equal to 1, 2 or 4.
the optional basis argument is a number other than 0, 1, 2, 3 or 4.
#VALUE! dates are not valid.
Any argument found non-numeric.

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