Coupdaybs (Coupon Period, Beginning to Settlement)

Returns the number of days from the beginning of a coupon period to the settlement date.

Syntax

Coupdaybs <Basis> (Settlement, Maturity, Frequency)

Where:

Settlement is the settlement date. This is the date, after issue, on which the security is traded.

Maturity is the maturity date. This is the date on which the security expires.

Frequency is the number of coupon payments per year. The valid values are 1,2 and 4 where annual payments =1, semiannual payments =2, and quarterly payments =4.

Basis is a parameter that indicates the time-count basis to be used. The default value for Basis is 0, which is typically used by American agencies and assumes 30-day months and 360-day years (30/360). Possible values for this parameter are listed in the following table.

Basis value	Application
0 (30/360)	Assumes 30 days in each month, 360 days in each year.
1 (actual/actual)	Assumes actual number of days in each month, actual number of days in each year.
2 (actual/360)	Assumes actual number of days in each month, 360 days in each year.
3 (actual/365)	Assumes actual number of days in each month, 365 days in each year.
4 (30/360)	Used by European agencies, assumes the same values as “0” for American institutions.

Usage Notes

If an argument is not an integer, it is truncated.

The Settlement date and the Maturity date should be included within single quotations in the expression for the expression to be considered as a valid expression.