WorksheetFunction.CoupPcd(Object, Object, Object, Object) Method
Definition
Important
Some information relates to prerelease product that may be substantially modified before it’s released. Microsoft makes no warranties, express or implied, with respect to the information provided here.
Returns the previous coupon date before the settlement date.
public double CoupPcd (object Arg1, object Arg2, object Arg3, object Arg4);Public Function CoupPcd (Arg1 As Object, Arg2 As Object, Arg3 As Object, Optional Arg4 As Object) As DoubleParameters
- Arg1
- Object
The security's settlement date. The security settlement date is the date after the issue date when the security is traded to the buyer.
- Arg2
- Object
The security's maturity date. The maturity date is the date when the security expires.
- Arg3
- Object
The number of coupon payments per year. For annual payments, frequency = 1; for semiannual, frequency = 2; for quarterly, frequency = 4.
- Arg4
- Object
The type of day count basis to use.
Returns
Remarks
Important: Dates should be entered by using the DATE function, or as results of other formulas or functions. For example, use DATE(2008,5,23) for the 23rd day of May, 2008. Problems can occur if dates are entered as text.
The following table contains the values used in Arg4.
| 0 or omitted | US (NASD) 30/360 |
| 1 | Actual/actual |
| 2 | Actual/360 |
| 3 | Actual/365 |
| 4 | European 30/360 |
Microsoft Excel stores dates as sequential serial numbers so they can be used in calculations. By default, January 1, 1900 is serial number 1, and January 1, 2008 is serial number 39448 because it is 39,448 days after January 1, 1900. Microsoft Excel for the Macintosh uses a different date system as its default.
The settlement date is the date a buyer purchases a coupon, such as a bond. The maturity date is the date when a coupon expires. For example, suppose a 30-year bond is issued on January 1, 2008, and is purchased by a buyer six months later. The issue date would be January 1, 2008, the settlement date would be July 1, 2008, and the maturity date would be January 1, 2038, which is 30 years after the January 1, 2008, issue date.
All arguments are truncated to integers.
If settlement or maturity is not a valid date, CoupPcd generates an error.
If frequency is any number other than 1, 2, or 4, CoupPcd generates an error.
If basis < 0 or if basis > 4, CoupPcd generates an error.
If settlement ≥ maturity, CoupPcd generates an error.