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Financial function

COUPNUM

Returns the number of coupons payable between settlement and maturity.

Rarely usedDifficulty 1550 · AdvancedUsage rank #433 of 520
Practice · 2 questions →

When to use it

The number of coupons payable between settlement and maturity, rounded up.

The shape of it

Syntax
=COUPNUM(settlement, maturity, frequency, [basis])

Worked examples

  • Two coupons

    =COUPNUM(DATE(2011,1,25),DATE(2011,11,15),2,1) → 2

    May and November.

  • Five-year bond

    =COUPNUM(DATE(2025,3,1),DATE(2030,1,1),2) → 10

    Ten semiannual coupons over five years.

  • Quarterly

    =COUPNUM(DATE(2025,3,1),DATE(2030,1,1),4) → 20

    Quarterly.

Worth knowing

  • A partial first period still counts as a coupon.
  • Total coupon cash is COUPNUM × rate × par / frequency.
  • Basis does not change the count.

Where it goes wrong

  • #NUM! for invalid frequency.
  • Text dates return #VALUE!.

Related

PMTNPVIRRIPMTPPMTPV

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