Function Type: Financial
Description:
The Excel COUPPCD function returns the previous coupon date before the settlement date for a coupon bond.
Function Structure:
=COUPPCD(settlement, maturity, frequency, [basis]).
Argument Breakdown:
settlement – The security’s settlement date. The security settlement date is the date after the issue date when the security is traded to the buyer.
maturity – The security’s maturity date. The maturity date is the date when the security expires.
frequency – The number of coupon payments per year. For annual payments, frequency = 1; for semiannual, frequency = 2; for quarterly, frequency = 4.
basis – The type of day count basis to use.
Example:
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