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Excel

COUPPCD function in Excel

Returns the previous coupon date before the settlement date

=COUPPCD(settlement, maturity, frequency, [basis])

COUPPCD syntax and parameters

Four arguments, three required.

  • settlementanyRequired

    The security's settlement date. The security settlement date is the date after the issue date when the security is traded to the buyer.

  • maturityanyRequired

    The security's maturity date. The maturity date is the date when the security expires.

  • frequencynumberRequired

    The number of coupon payments per year. For annual payments, frequency = 1; for semiannual, frequency = 2; for quarterly, frequency = 4.

  • basisanyOptional

    The type of day count basis to use.

COUPPCD examples

Formulas you'll actually reuse.

  1. The last coupon date before settlement (format the cell as a date):

    =COUPPCD(DATE(2026, 5, 15), DATE(2031, 3, 15), 2)

    Result2026-03-15

  2. Calendar days since that coupon:

    =DATE(2026, 5, 15) - COUPPCD(DATE(2026, 5, 15), DATE(2031, 3, 15), 2)

    Result61

COUPPCD in Google Sheets

Same name — your formula ports as-is.

Try COUPPCD in the playground

Edit the example — nothing to install.

Preloaded with the COUPPCD formula from Example 1 — change anything and watch it respond.

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Related functions

More ways Excel gets this done.