COUPNUM Function Explained
The COUPNUM Function in Microsoft Excel calculates the number of coupon payments to be made between two specified dates. It takes three arguments: settlement, maturity, and frequency. The settlement argument is the security’s settlement date, the maturity argument is the security’s maturity date, and the frequency argument is the number of coupon payments per year. The function returns the number of coupon payments between the two specified dates.
COUPNUM Function Syntax
COUPNUM(settlement, maturity, frequency, [basis])
- 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.
- maturity: The security’s maturity date. The maturity date is the date when the security expires.
- frequency: The number of coupon payments per year. For annual payments, frequency = 1; for semiannual, frequency = 2; for quarterly, frequency = 4.
- basis: The type of day count basis to use. The basis is an optional argument. If omitted, it defaults to 0 (US (NASD) 30/360).