Use the COUPNUM function to return the number of coupons payable between the settlement and maturity dates.
Syntax
COUPNUM(settlement, maturity, frequency)
The COUPNUM function has the following arguments:
| Argument | Data type | Description |
| settlement (required) | Date | The bond settlement date — the date the bond is traded to the buyer. |
| maturity (required) | Date | The bond maturity date — the date when the bond expires. |
| frequency (required) | Number |
The number of coupon payments per year. Enter:
|
| Returns |
| Date |
Constraints
The COUPNUM function has the following constraints:
- the settlement and maturity dates must be valid dates between 01/01/1900 and 12/31/2399;
- the maturity date must be later than the settlement date; and
- the frequency must be either 1 (annual), 2 (semi-annual), or 4 (quarterly).
Examples
The following tables show some example formulas using the COUPNUM function.
You can reference line items or list properties in your formula.
| Formula | Description | Result |
| COUPNUM(DATE(2015, 1, 15), DATE(2018, 1, 15), 1) |
This example shows how the number of coupons payable between settlement and maturity can be calculated when the frequency is 1 (annual). The settlement date is 01/15/2015 and a maturity date is 01/15/2018. |
3.0 |
| COUPNUM(DATE(2015, 1, 15), DATE(2018, 1, 15), 4) |
In this example the number of coupons payable between settlement and maturity is calculated when the frequency is 4 (quarterly). Here, the settlement date is 01/15/2015 and the maturity date is 01/15/2018. |
12.0 |