For example, you can use the COUPNUM function to calculate how many coupons remain to be paid for a bond.

## Syntax

`COUPNUM(Settlement, Maturity, Frequency)`

## Arguments

Argument | Data type | Description |

Settlement (required) | Date | The bond settlement date, when the bond is traded to the buyer. |

Maturity (required) | Date | The bond maturity date, when the bond expires. |

Frequency (required) | Number | The number of coupon payments per year. Enter: - 1 for annual
- 2 for semi-annual
- 4 for quarterly
If you use any value other than 1, 2, or 4 for this argument, the function returns a blank result. |

The COUPNUM function returns a number.

## Constraints

- The settlement and maturity dates must be between 01/01/1900 and 12/31/2399.
- The maturity date must be later than the settlement date.

## Calculation engine functionality differences

## Excel equivalent

## Related Anaplan functions

## Examples

In this example, two formulas calculate how many coupons are payable between the settlement and maturity date. The first formula uses 1 for the *Frequency* argument, so coupons are paid annually. The second formula uses 4 for the *Frequency* argument, so coupons are paid quarterly.

Formula | Description | Result |

`COUPNUM(DATE(2021, 1, 15), DATE(2024, 1, 15), 1)` | This example calculates how many coupons are payable given a coupon frequency of 1 per year. The settlement date is 01/15/2021 and the maturity date is 01/15/2024. | 3 |

`COUPNUM(DATE(2021, 1, 15), DATE(2024, 1, 15), 4)` | This example calculates how many coupons are payable given a coupon frequency of 4 per year. The example uses a settlement date of 01/15/2021 and a maturity date of 01/15/2024. | 12 |