In the previous article introduced to you the function returns the next coupon date after the settlement date. The following article introduces you to the COUPPCD function - The function returns the previous coupon date before the settlement date.
Description: The function returns the previous coupon date before the settlement date of the security.
Syntax: COUPPCD (settlement, maturity, frequency, [basis]) .
Inside:
- settlement : Is the date of settlement of securities (The day that securities are sold to buyers, only after issuance date), which is the required parameter.
- maturity : The maturity or maturity date of a security, which is a mandatory parameter.
- frequency : Number of coupon payments per year, a required parameter. There are values:
+ frequency = 1 => annual payment.
+ frequency = 2 => pay with a frequency of half a year.
+ frequency = 4 => payment quarterly.
- basis : The basis determined to calculate the number of days, is an arbitrary parameter. The following values are available:
+ Basis = 0 or omitted: calculate the US standard number of days of the month / days of the year is 30/360.
+ Basis = 1: the number of days in the month / days in a year is the actual number of days in the month / the number of actual days in a year.
+ Basis = 2: the number of days in the month / days in a year is the actual number of days in the month / 360.
+ Basis = 3: the number of days in a month / days in a year is the actual number of days in a month / 365.
+ Basis = 4: Based on European European standards the number of days in the month / days of the year is 30/360.
Attention:
- If the parameter value is decimal =. The function takes the value of the parameter as an integer.
- If settlement> = maturity => the function returns the #NUM! Error value.
- If basis is outside the values 0, 1, 2, 3, 4 => the error function #NUM !.
- If frequency is outside of value 1, 2, 4 => the function returns the #NUM! Error.
For example:
Calculate the coupon date of the previous stock, before the stock settlement date with the following parameter:
In the cell to be calculated enter the following formula: = COUPPCD (D6, D7, D8, D9) .
Results after calculation:
Thus, the coupon date of the previous stock is calculated before the settlement date.
Good luck!