Coupons update flow via API

Coupons update flow via API

Hello!
I have a requirement to implement UI to edit Zoho coupons via API and related web UI at our website control panel / admin UI.
I implemented automatic creation of mirror coupons at our database and at zoho to reduce number of requests to Zoho API.
But now I stuck into the very limited coupons editing.capabilities of Zoho API.
What will happen if I will delete a coupon, used by 1 or more subscriptions, and than add a new coupon with same code, but with different discount?
Whether this will affect existing subscriptions which used "old" version of that coupon?

Thanks for your time.