The Excel COUPNUM stands for coupon number.COUPNUM function helps calculate the number of coupon payments that we will receive from the settlement date of a bond to its maturity date. In MS-Excel this function is categorized under financial function.
Purpose of Excel COUPNUM Function
To get a number of coupons payable.
Return value
COUPNUM function returns the number of coupons payable between the settlement date and maturity date, rounded up to the nearest whole coupon.
Syntax
= COUPNUM(settlement, maturity, frequency, [basis])
Arguments
| Arguments | Description | Remarks |
| settlement | The security’s settlement date. The security settlement date is the date after the issue date when the security is traded to the buyer. | Mandatory |
| maturity | The security’s maturity date. The maturity date is the date when the security expires. | Mandatory |
| frequency | The number of coupon payments per year. For annual payments, frequency = 1; for semiannual, frequency = 2; for quarterly, frequency = 4. | Mandatory |
| [basis] | The type of day count basis to use. | Optional |
| BASIS | DAY COUNT BASIS |
| 0 or Omitted | US (NASD) 30/360 |
| 1 | Actual/actual |
| 2 | Actual/360 |
| 3 | Actual/365 |
| 4 | European 30/360 |
Usage note
- All arguments are truncated to integers.
- If settlement or maturity is not a valid date, COUPNUM returns the #VALUE! error value.
- If frequency is any number other than 1, 2, or 4, COUPNUM returns the #NUM! error value.
- If basis < 0 or if basis > 4, COUPNUM returns the #NUM! error value.
- If settlement ≥ maturity, COUPNUM returns the #NUM! error value.
Availability
Since 2007 for Windows.
Since 2011 for Mac.