The COUPPCD function calculates the previous coupon date before a settlement date.

For example, you can use the COUPPCD function to identify the most recent coupon date for a bond before it was traded to a buyer.

Syntax

COUPPCD(Settlement, Maturity, Frequency)

Arguments

 Argument Data type Description Settlement (required) Date The bond settlement date, when the bond is traded to the buyer. Maturity (required) Date The bond maturity date, when the bond expires. Frequency (required) Number The number of coupon payments per year.  Enter: 1 for annual 2 for semi-annual 4 for quarterly If you use any value other than 1, 2, or 4, the function returns a blank result.

The COUPPCD returns a date.

Constraints

• The settlement and maturity dates must be between 01/01/1900 and 12/31/2399.
• The maturity date must be later than the settlement date.

Calculation engine functionality differences

Most financial functions are currently unavailable in Polaris. Learn more about the differences between Anaplan calculation engines.

Excel equivalent function

COUPPCD(opens external page)

Examples

For example, the formula below calculates the previous coupon date before the settlement date for a bond. In this example, as the coupon is paid annually, the previous coupon date was 01/31/2014.

 Formula Description Result COUPPCD(DATE(2015, 1, 15), DATE(2018, 1, 31), 1) In this example, the previous coupon date is calculated for a bond with a frequency of 1 (annual).  The example uses a settlement date of 01/15/2015 and a maturity date of 01/31/2018. 01/31/2014

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