COUPPCD

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

Description: Computes the previous coupon date before the settlement date.

Arguments:

Name

Type

Description

settlement

number

The security's settlement date.

maturity

number

The security's maturity date.

frequency

number

The number of coupon payments per year. For annual payments, frequency is 1; for semiannual payments, frequency is 2; for quarterly payments, frequency is 4. frequency is truncated to an integer.

basis

number

The truncated integer type of day count basis to use, as follows:

Value

Day Count Basis

0 or omitted

US (NASD) 30/360

1

Actual/actual

2

Actual/360

3

Actual/365

4

European 30/360

Time information in the date arguments is ignored.

Return Type and Value: number – The previous coupon date before the settlement date, as a date.

However, if

  • settlement or maturity is out of range for the current date base value, #NUM! is returned.

  • settlement ≥ maturity, #NUM! is returned.

  • frequency is any number other than 1, 2, or 4, #NUM! is returned.

  • basis < 0 or basis > 4, #NUM! is returned.

example: