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Welcome back to our frequent blog of Excel functions from A to Z. Today we look at the COUPNCD function.
La función COUPNCD
Los bonos con cupón son bonos que pagan intereses antes del vencimiento y esos pagos de intereses se pagan en un horario regular que puede ocurrir una, two or four times a year. Después de tomar posesión del bono, puede calcular la fecha del calendario de su próximo cupón usando el COUPNCD function.
The COUPNCD The function uses the following syntax to operate:
COUPNCD (liquidation, expiration, frequency, [basis])
The COUPNCD The function has the following arguments:
- settlement: this represents the settlement date of the security. The settlement date of the security is the date after the issue date when the security is traded with the buyer.
- maturity: this is the expiration date of the security, In other words when security expires
- frequency: The number of coupon payments per year. For annual payments, frequency it is 1; for semester, frequency it is 2; for quarterly, frequency it is 4. These are the only options (look down)
- base: the type of day count base to use. This is optional. There are five options:
|
Base |
Day Count Base |
|
0 or omitted |
United States (NASD) 30/360 |
|
1 |
Real / real |
|
2 |
Real / 360 |
|
3 |
Actual / 365 |
|
4 |
European 30/360 |
It should be noted at the same time that:
- microsoft excel stores dates as sequential serial numbers so that they can be used in calculations. By default, the 1 of January of 1900 is the serial number 1 and the 1 of January of 2008 is the serial number 39448 because it is 39,448 days after 1 of January of 1900.
- dates must be entered using the DATE function, or as a consequence of other formulas or functions. As an example, use = DATE (2020,2,29) for him 29th February 2020. Problems can arise if dates are entered as text
- the settlement date is the date a buyer purchases a coupon, as a bonus. The expiration date is the date a coupon expires. As an example, Suppose a bond is issued to 30 years the 1 of January of 2008 and a buyer buys it six months later. The issue date would be 1 of January of 2008, the settlement date would be 1 July 2008 and the expiration date would be 1 of January of 2038, 30 years after the date of issue of the 1 of January of 2008
- all arguments are truncated to integers
- And settlement O maturity is not a valid date, COUPNCD return the #VALUE! error value
- And frequency is any number other than 1, 2 O 4, COUPNCD return the #ON ONE! error value
- And base <0 o si base > 4, COUPNCD return the #ON ONE! error value
- And settlement ≥ maturity, COUPNCD return the #ON ONE! error value.
Please, see my example below:
Soon we will continue with our functions from A to Z of Excel. Keep checking: there is a new blog post every business day.
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