1. Calculation functions
  2. All Functions
  3. Financial Functions
  4. COUPNUM

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:

  • 1 for annual,
  • 2 for semi-annual, or
  • 4 for quarterly.

 

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

Excel Equivalent