The COUPNUM function returns the number of coupons payable between a settlement and maturity date.

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

COUPNUM(Settlement, Maturity, Frequency)

 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.

 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