COUPPCD
The date of the coupon paid last before settlement, or on it.
Group: Financial. Compatible with DAX.
Syntax
COUPPCD ( <settlement>, <maturity>, <frequency> [, <basis>] )| Parameter | Type | Description |
|---|---|---|
settlement | Date | The day the buyer takes the security over; later than its issue. |
maturity | Date | The day the security ends and its face value is repaid. |
frequency | Whole number | Coupons a year: 1 for yearly, 2 for half-yearly, 4 for quarterly. |
basis | Whole number optional | The day count, by number: US 30/360 (0, when left out), actual/actual (1), actual/360 (2), actual/365 (3) or European 30/360 (4). |
Returns
Date. The date of the coupon paid most recently, at or before settlement.
Remarks
- A settlement that falls on a coupon date gives that date itself.
- Coupons fall on maturity's day of the month, stepping back from maturity by 12 / frequency months. When maturity is the last day of a month, every coupon date is a month's last day too.
- A settlement on or after maturity is an error. The dates are taken as whole days. frequency and basis are rounded to whole numbers first; a frequency other than 1, 2 or 4, or a basis outside 0 to 4, is an error.
Examples
The last coupon
EVALUATE
ROW (
"Last coupon", COUPPCD ( DATE ( 2011, 1, 25 ), DATE ( 2011, 11, 15 ), 2, 1 )
)| Last coupon |
|---|
| 2010-11-15 |
Settlement on a coupon date
EVALUATE
ROW (
"Last coupon", COUPPCD ( DATE ( 2011, 5, 15 ), DATE ( 2011, 11, 15 ), 2, 1 )
)| Last coupon |
|---|
| 2011-05-15 |