COUPDAYS Function in Google Sheets

Calculate the number of days in the coupon period containing the settlement date using the COUPDAYS function.

COUPDAYS Function

The COUPDAYS function in Google Sheets calculates the number of days in the coupon period that contains the settlement date.

Syntax

COUPDAYS(settlement, maturity, frequency, [day_count_convention])
  • settlement: The security’s settlement date.
  • maturity: The security’s maturity date.
  • frequency: The number of coupon payments per year (1, 2, or 4).
  • day_count_convention: (Optional) The day count convention to use. Default is 0 (actual/actual).

Examples

  1. Basic Coupon Period Day Calculation

Calculate the days in the coupon period containing the settlement date:

=COUPDAYS("1/1/2023", "1/1/2028", 2)

This will output the number of days in that coupon period.

  1. Calculation with 30/360 Basis

Calculate using a 30/360 basis:

=COUPDAYS("1/1/2023", "1/1/2028", 2, 1)

This will output the number of days based on the 30/360 basis.

Notes

  • This function helps in understanding the duration of the coupon period for bonds.
  • Make sure that the settlement date falls before the maturity date to avoid errors.
  • COUPDAYBS: Calculate the number of days from the beginning of the coupon period to the settlement date.
  • COUPDAYSNC: Calculate the number of days from the settlement date to the next coupon date.