Daily DAX : Day 309 COUPDAYSNC

Power BI DAX COUPDAYSNC Function

Description

The COUPDAYSNC function in Power BI DAX calculates the number of days from the settlement date to the next coupon date for a security with periodic interest payments (e.g., a bond).

Syntax

COUPDAYSNC(settlement, maturity, frequency, [basis])

Parameters

• settlement: The date when the security is purchased (must be a valid date).
• maturity: The date when the security expires (must be after the settlement date).
• frequency: The number of coupon payments per year:
  • 1 = Annual
  • 2 = Semi-annual
  • 4 = Quarterly
• basis (optional): The day count convention to use (defaults to 0 if omitted):
  • 0 = US (NASD) 30/360
  • 1 = Actual/actual
  • 2 = Actual/360
  • 3 = Actual/365
  • 4 = European 30/360

Return Value

A number representing the days from the settlement date to the next coupon payment date.

Use Case

The COUPDAYSNC function is used in financial analysis to determine the time period until the next coupon payment for bonds or similar securities. This is critical for:

• Calculating accrued interest for bond pricing.
• Assessing cash flow timing in investment portfolios.
• Analyzing bond yields and returns in financial models.

Example

Suppose a bond is purchased on January 15, 2025, with a maturity date of December 31, 2027, paying semi-annual coupons using the US 30/360 day count basis.

COUPDAYSNC(DATE(2025, 1, 15), DATE(2027, 12, 31), 2, 0)

If the next coupon date is June 30, 2025, the function returns approximately 165 days (from January 15 to June 30, 2025).

Notes

• Dates must be valid and entered using the DATE function or as date values.
• The function assumes regular coupon schedules.
• Invalid inputs (e.g., settlement date after maturity) will return an error.