The COUPDAYSNC function calculates the number of days from the settlement date to the next coupon date. The NC, in the word: COUPDAYSNC means “Next Coupon” and the function belongs to the financial function category.
COUPDAYSNC(settlement, maturity, frequency, [basis])
The function syntax has the following arguments:
settlement – Required. After the security’s issue date, it the date on which the security is traded to the buyer.
maturity – Required. The date on which the security expires.
frequency – Required. The frequency of coupon payment within a year. Use the guide mentioned hereunder to select your desired frequency:
[basis] – Optional. The day count basis to be used in the calculation. If omitted, Excel uses “0” by default.
|Basis||Day count basis|
|0 or omitted||US (NASD) 30/360|
|#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.|