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:
|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.|
The number of coupon payments per year.
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.
|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.