Easy Explanation Notes with Examples

COUPDAYSNC function in Excel


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:

For  Frequency
Annual Payments 1
Semiannual 2
Quarterly 4

[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
1 Actual/actual
2 Actual/360
3 Actual/365
4 European 30/360



Function Errors

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.

Copyright © 2016 - 2018 Explainry.com | All Rights Reserved