Syntax. COUPNCD(Settlement,Maturity,Frequency,Basis)
Settlement (required) The date when the ownership of the security changes.
Maturity (required) The date when the repayment of the loan certified by the security takes place.
Basis (optional) The method you want to use for determining the days in the year according to Table 15-2, shown earlier. If this argument is omitted, Excel calculates with Basis = 0.
The arguments have the following requirements:
Date specifications must not have a time; decimal places are truncated. The arguments Frequency and Basis are also truncated to integers.
If date arguments cannot be resolved to a valid date, the function returns the #VALUE!
error.
If Frequency cannot be resolved to 1, 2, or 4, or Basis cannot be resolved to a number from 0 through 4, the function returns the #NUMBER!
error. The same happens when the settlement date is later than the maturity.