COUPNCD DAX Function (Financial)
Returns the next coupon date after the settlement date.
Syntax
| Parameter | Attributes | Description |
|---|---|---|
| Settlement |
The security’s settlement date. The security settlement date is the date after the issue date when the security is traded to the buyer. |
|
| Maturity |
The security’s maturity date. The maturity date is the date when the security expires. |
|
| Frequency |
The number of coupon payments per year. For annual payments, frequency = 1; for semiannual, frequency = 2; for quarterly, frequency = 4. |
|
| Basis | Optional |
The type of day count basis to use. |
Return values
Remarks
Basis sets the day-count method. Use 0 or omit the value for US (NASD) 30/360. Use 1 for actual/actual. Use 2 for actual/360. Use 3 for actual/365. Use 4 for European 30/360.
Settlement and Maturity are truncated to integers, so the time part of a date is ignored. Frequency and Basis are rounded to the nearest integer.
COUPNCD returns an error in these conditions:
– Settlement or Maturity is not a valid date.
– Settlement is equal to or later than Maturity.
– Frequency is not 1, 2, or 4.
– Basis is less than 0 or greater than 4.
A BLANK Settlement does not return an error: it is treated as 30-Dec-1899 (the zero date), so the result is computed from that date.
The coupon dates come from Maturity, going back by 12 / Frequency months. If Maturity is the last day of a month, all coupon dates are the last day of their month (for example, 28-Feb-2011 for Maturity 31-Aug-2011).
The result does not depend on Basis. If Settlement is a coupon date, COUPNCD returns the next coupon date, not Settlement.
Examples
-- COUPPCD, COUPNCD, and COUPNUM for a bond with these terms:
-- Settlement 25-Jan-2011, Maturity 15-Nov-2011
-- Basis 1 (actual/actual)
-- Coupon dates move back from Maturity by 12 / Frequency months
EVALUATE
VAR Settlement = DATE ( 2011, 1, 25 )
VAR Maturity = DATE ( 2011, 11, 15 )
VAR Basis = 1
RETURN
ADDCOLUMNS (
{
( 1, "Annual" ),
( 2, "Semiannual" ),
( 4, "Quarterly" )
},
"COUPPCD", COUPPCD ( Settlement, Maturity, [Value1], Basis ),
"COUPNCD", COUPNCD ( Settlement, Maturity, [Value1], Basis ),
"COUPNUM", COUPNUM ( Settlement, Maturity, [Value1], Basis )
)
| Value1 | Value2 | COUPPCD | COUPNCD | COUPNUM |
|---|---|---|---|---|
| 1 | Annual | 2010-11-15 | 2011-11-15 | 1 |
| 2 | Semiannual | 2010-11-15 | 2011-05-15 | 2 |
| 4 | Quarterly | 2010-11-15 | 2011-02-15 | 4 |
Last update: Nov 9, 2026 » Contribute » Show contributors
Contributors: Alberto Ferrari, Marco Russo
Microsoft documentation: https://learn.microsoft.com/en-us/dax/coupncd-function-dax