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coupdays

# coupdays - Coupon Days in the Settlement Period COUPDAYS...

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Coupon Days in the Settlement Period – COUPDAYS The number of days in the compounding period that contains the settlement date can be calculated using Excel’s COUPDAYS function. See the table below for a detailed list of the exercises and problems in the text that can be solved using this function. This function is included in the Analysis ToolPak. Syntax =COUPDAYS(settlement,maturity,frequency,basis) Settlement – the date after the issue date when the security is traded to the buyer Maturity – maturity date of the security Frequency - number of coupon payments per year 1 = annual 2 = semiannual 3 = quarterly Basis – day count basis of the security. Defaults to 0 if omitted. 0 = 30/360 (US NASD) 1 = actual/actual 2 = actual/360 3 = actual/365 4 = European 30/365 General Example The following general example shows how the COUPDAYS function can be used. Notice that the COUPDAYS function appears in the formula bar. 1

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Using the COUPDAYS Function in a Spreadsheet To calculate the number of days in the compounding period that contains the settlement date, create a spreadsheet by following Steps 1 to 7. Or, to use the COUPDAYS function right away, open the COUPDAYS worksheet in the Excel Functions Templates workbook. All fields have been formatted for you (currency, percentage, number of
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