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Use this function to identify the coupon date prior to the settlement date (that is, the previous coupon date).


COUPPCD(settlement, maturity, frequency)

The COUPPCD function has the following arguments:

Argument Data type Description
settlement (required) Date The bond settlement date — the date the bond is traded to the buyer.
maturity (required) Date The bond maturity date — the date when the bond expires.
frequency (required) Number

The number of coupon payments per year.


  • 1 for annual,
  • 2 for semi-annual, or
  • 4 for quarterly.




The COUPPCD function has the following constraints:

  • the settlement and maturity dates must be valid dates between 01/01/1900 and 12/31/2399;
  • the maturity date must be later than the settlement date; and
  • the frequency must be either 1 (annual), 2 (semi-annual), or 4 (quarterly).


The following tables show some example formulas using the COUPPCD function.

You can reference line items or list properties in your formula.

Formula Description Result
COUPPCD(DATE(2015, 1, 15), DATE(2018, 1, 31), 1)

This example calculates the previous coupon date before the settlement date for a bond with a frequency of 1 (annual).

The settlement date is 01/15/2015 and the maturity date is 01/31/2018.

COUPPCD(DATE(2015, 1, 15), DATE(2018, 1, 15), 4)

In this example the previous coupon date is calculated for a bond with a frequency of 4 (quarterly).

The example uses a settlement date of 01/15/2015 and a maturity date of 01/31/2018.


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