Documentation/How Tos/Calc: COUPDAYS function
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COUPDAYS
Returns the number of days in the coupon period that contains the settlement date.
This function is only available if the Analysis AddIn is installed.
Syntax:
COUPDAYS(settlement; maturity; frequency; basis)
- settlement: the date of purchase of the security.
- maturity: the date on which the security matures (expires).
- frequency: number of interest payments per year (1, 2 or 4).
- basis: is chosen from a list of options and indicates how the year is to be calculated. Defaults to 0 if omitted.
- 0 - US method (NASD), 12 months of 30 days each
- 1 - Exact number of days in months, exact number of days in year
- 2 - Exact number of days in month, year has 360 days
- 3 - Exact number of days in month, year has 365 days
- 4 - European method, 12 months of 30 days each
Example:
COUPDAYS("2001-01-25"; "2001-11-15; 2; 4)
- returns 180. A security is purchased on 2001-01-25; the date of maturity is 2001-11-15. Interest is paid half-yearly (frequency is 2). Using basis 4, there are 180 days (= 6 * 30) in the interest period in which the settlement date falls.
See also:
Issues:
- Both Calc and Excel can return a non-integer number of days (including a fraction) - for example COUPDAYS("2001-01-25"; "2001-11-15; 2; 3) returns 182.5 (= 365/2).