La función COUPPCD

Welcome back to our frequent blog of Excel functions from A to Z. Today we look at the COUPPCD function.

La función COUPPCD

Un bono con cupón es un bono que paga intereses antes de que venza. Ese interés se paga en un horario regular y en Excel que puede ser anual (al menos una vez al año), semestral (dos veces al año) o trimestral (cuatro veces al año). Si está pensando en invertir en un bono con cupón antes de su fecha de inicio, In other words el primer día que el bono está habilitada, después puede calcular la fecha del calendario del pago del cupón más reciente usando el COUPPCD function. Esta función devuelve un número que representa la pagretrógrado Coupon DComí antes de la fecha de liquidación.

The COUPPCD The function uses the following syntax to operate:

The COUPPCD The function has the following arguments:

• settlement: this represents the settlement date of the security. The settlement date of the security is the date after the issue date when the security is traded with the buyer.
• maturity: this is the expiration date of the security, In other words when security expires
• frequency: The number of coupon payments per year. For annual payments, frequency it is 1; for semester, frequency it is 2; for quarterly, frequency it is 4. These are the only options (look down)
• base: the type of day count base to use. This is optional. There are five options:

Base	Day Count Base
0 or omitted	United States (NASD) 30/360
1	Real / real
2	Real / 360
3	Actual / 365
4	European 30/360

It should be noted at the same time that:

• microsoft excel stores dates as sequential serial numbers so that they can be used in calculations. By default, the 1 of January of 1900 is the serial number 1 and the 1 of January of 2008 is the serial number 39448 because it is 39,448 days after 1 of January of 1900.
• dates must be entered using the DATE function, or as a consequence of other formulas or functions. As an example, use = DATE (2020,2,29) for him 29^th February 2020. Problems can arise if dates are entered as text
• the settlement date is the date a buyer purchases a coupon, as a bonus. The expiration date is the date a coupon expires. As an example, Suppose a bond is issued to 30 years the 1 of January of 2008 and a buyer buys it six months later. The issue date would be 1 of January of 2008, the settlement date would be 1 July 2008 and the expiration date would be 1 of January of 2038, 30 years after the date of issue of the 1 of January of 2008
• all arguments are truncated to integers
• And settlement O maturity is not a valid date, COUPPCD return the #VALUE! error value
• And frequency is any number other than 1, 2 O 4, COUPPCD return the #ON ONE! error value
• And base <0 o si base > 4, COUPPCD return the #ON ONE! error value
• And settlement ≥ maturity, COUPPCD return the #ON ONE! error value.

Please, see my example below: