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EXCEL COUPPCD FUNCTION
Excel COUPPCD Function Introduction
The Excel Coupnum function, shown in Cell A3 of the spreadsheet below, is used to calculate the number of coupon payments for a security that uses the US (NASD) 30/360 day count basis and has the settlement date 01-Jan-2011. The Excel Couppcd method returns the preceding discount code date, even before settlement date for a safety.
Description of Excel COUPPCD Function
Syntax:
=COUPPCD( settlement, maturity, frequency, [basis] )
Parameter:
- The following are the arguments:
settlement:
- The security’s settlement date.
maturity:
- The security’s maturity date.
frequency:
- The frequency is an integer that represents the number of coupon payments made every year. This must have a value of 1, 2, or 4, implying:
| 1 | – | Annually |
| 2 | – | Semi-Annually |
| 4 | – | Quarterly |
[basis]:
- An optional integer input indicating the day count basis to be utilised.
This must be one of the values listed below:
Step By Step Guide of COUPPCD Function
Example :
The Excel Couppcd function is used in cell A3 of the following spreadsheet to compute the discount date well before closing date for the a security with a final payment of 01-Jan-2011, an expiry of 25-Oct-2012, and four coupon payments each year. The security operates on a 30/360 day count basis in the United States (NASD).
Key Points
- #NUM! – Occurs if any of the following conditions are met: the supplied settlement date is maturing date; the supplied periodicity argument is an integer that just isn’t equal to 1, 2, or 4; and the given [basis] justification is a number that is not equivalent to 0, 1, 2, 3, or 4.
- #VALUE! – Occurs if any of the following conditions are met: the given settlement or maturity dates are not valid Excel dates; any of the supplied arguments are non-numeric.
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