Easy Explanation Notes with Examples

COUPNUM function in Excel

Use

The COUPNUM function is a financial function, which calculates the total number of coupon payments to be made from the settlement date to the maturity date of the security. For example, being an investor, you invest in a bond, the COUPNUM function will calculate the total number of coupon payments that you will receive from the settlement date to the bond’s maturity date.

Syntax

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

The function has the following arguments:

settlement – Required. The date on which the security was traded to the buyer.

maturity – Required. The date on which the security will expire.

frequency – The frequency of the coupon payments to be made until the maturity of the security.

For  Frequency
Annual Payments 1
Semiannual 2
Quarterly 4

[basis] – The day count basis to be specified for the calculation purpose.

Basis Day count basis
0 or omitted US (NASD) 30/360
1 Actual/actual
2 Actual/360
3 Actual/365
4 European 30/360

Example

Result:

In our above example, there are total five coupon payments to be made until the maturity of the security.

Function Error

Errors Occurs if
#NUM! The settlement date is greater than or equal to the maturity date.
The supplied frequency argument is not equal to 1, 2, or 4.
The supplied [basis] argument is not equal to predefined criteria.
#VALUE! If supplied dates are not valid.
Any of the supplied arguments are non-numeric.

For more detail, you may visit the Microsoft Office website.




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