COUPDAYSNC Function in Excel: Days From Settlement to Next Coupon

COUPDAYSNC Function in Excel: Days From Settlement to Next Coupon 1
⏱ 1 min readUpdated 5 October 2026

FinanceLevel: ExpertAvailable in: Excel 2007+

In this article
  1. Syntax
  2. Examples
  3. Example 1
  4. COUPDAYSNC in practice
  5. Where you will use it
  6. Worked example
  7. Mistakes people make
  8. Related functions

COUPDAYSNC counts days from settlement to the next coupon date. Used for bond pricing and accrued interest on half-yearly coupons.

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Syntax

=COUPDAYSNC(settlement, maturity, frequency, [basis])
Argument What it means
settlement Purchase date
maturity Maturity date
frequency 1, 2 or 4 coupons a year
basis Day count

Examples

Example 1

=COUPDAYSNC(A2,B2,2,1)

Result: 177. See the worked example table below for more cases.

COUPDAYSNC in practice

Where you will use it

  • Accrued interest when buying a bond between coupons
  • Cash-flow schedules
  • Treasury desk reports

Worked example

SettlementMaturityFormulaResult
05-10-202631-03-2031=COUPDAYSNC(A2,B2,2,1)177
10-01-202631-12-2030=COUPDAYSNC(A3,B3,2,1)171
15-06-202615-06-2028=COUPDAYSNC(A4,B4,2,1)183

Results calculated in Excel.

Mistakes people make

MistakeWhat to do instead
Settlement after maturity#NUM!
Wrong frequencyUse the bond's real coupon frequency

COUPNCD · COUPNUM · ACCRINT

📚 Part of the free Excel course: Beginner → Expert · Try it in the Formula Lab or ask the AI Helper.

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