COUPDAYS

• How to use COUPDAYS formula?
• Examples of using COUPDAYS formula
• COUPDAYS formula not working?
• Similar formulas to COUPDAYS

Usage

Use the COUPDAYS formula with the syntax shown below, it has 3 required parameters and 1 optional parameter:

=COUPDAYS(settlement, maturity, frequency, [day_count_convention])

1. settlement (required):
   The settlement date of the security. This must be a valid date.
2. maturity (required):
   The maturity date of the security. This must be a valid date.
3. frequency (required):
   The number of coupon payments per year. This must be a positive integer.
4. day_count_convention (optional):
   Optional. The day count convention to use for calculating the number of days. If omitted, the default value is 0.

Examples

Calculate the number of days between two coupon payment dates

To calculate the number of days between two coupon payment dates, use the COUPDAYS function with the settlement date, the next coupon payment date, and the frequency of the security.

Calculate the accrued interest for a security

To calculate the accrued interest for a security, use the COUPDAYS function with the settlement date, the maturity date, the coupon rate, and the face value of the security.

Determine the next coupon payment date

To determine the next coupon payment date for a security, use the COUPPCD function in conjunction with COUPDAYS.

Common Mistakes

Incorrect date format

Make sure that the date format used in the settlement and maturity arguments is correct, otherwise the formula will return an error. The correct format is yyyy-mm-dd.

Using non-numeric frequency

The frequency argument should be a number that represents the number of coupon payments per year. If a non-numeric value is used, the formula will return an error.

Incorrect day count convention

The day_count_convention argument should be a number that represents the day count convention to be used in the calculation. If an invalid or unsupported value is used, the formula will return an error. Refer to the documentation for a list of supported values.

Related Formulas

The following functions are similar to COUPDAYS or are often used with it in a formula:

• COUPDAYBS

  The COUPDAYBS function calculates the number of days from the beginning of the coupon period to the settlement date for a security that pays periodic interest. It is commonly used in financial calculations to determine the accrued interest between the last coupon payment and the settlement date.

• COUPDAYSNC

  The COUPDAYSNC function calculates the number of days from the settlement date to the next coupon date, based on a specified frequency and day count convention. This function is commonly used in financial analysis to calculate the accrued interest on a bond between the settlement date and the next coupon date.

• COUPNCD

  The COUPNCD function calculates the next coupon date after the settlement date for a security with periodic interest payments. It is commonly used in finance to determine the next coupon payment date for bonds and other fixed income securities.

• COUPNUM

  The COUPNUM formula calculates the number of coupons payable between the settlement date and maturity date of a security. This formula is commonly used in financial analysis to determine the amount of interest income earned on a bond or other fixed income security.

• DAYS360

  The DAYS360 function calculates the number of days between two dates based on a 360-day year. This formula is commonly used in financial calculations, such as calculating interest payments. The method parameter is optional and can be used to specify the type of day count basis to use, such as US (NASD), European (30/360), or actual/actual.

Learn More

You can learn more about the COUPDAYS Google Sheets function on Google Support.