COUPDAYS Function in Excel: Syntax and Examples

This article provides a clear overview of COUPDAYS Function in Excel, with the main facts, useful context, and practical details organized for easy reading.

Function meaning: The COUPDAYS function calculates the number of days in the coupon period and contains the settlement date.

Syntax

COUPDAYS (settlement, maturity, frequency, [basis]) .

Arguments

- settlement : The settlement date is the date after the securities are sold after the issuance date.

- maturity: The maturity or expiry date of a security.

- frequency : Number of coupon payments of securities by year. The following values are available:

+ frequency = 1: Pay annually.

+ frequency = 2: Half-year payment.

+ frequency = 4: Payment quarterly.

- basis : Basis for calculating the number of days.

+ basis = 0 or omit this value: the base counts on 30/360 according to US.

+ basis = 1: Calculate the actual number of days / actual year.

+ basis = 2: actual month / 360 days / year.

+ basis = 3: actual month / 365 days / year + basis = 4: 30/360 days according to European standards.

Example

Calculating the number of days in a coupon period containing the settlement date.

in the target cell enter the following formula: COUPDAYS (A17, B17, C17, D17) .

Note: In the example above, the default does not enter in the default type with the value = 0. And when entering the date you pay attention to the date format must match the basis of counting dates. If you enter the wrong date basis ? report #NUM!: