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

Returns the number of coupons between the settlement date and the maturity date.

settlementThe settlement date of the security.
maturityThe maturity of the security.
frequencyThe number of coupon payments in a year:
1 = annual
2 = semi annual
4 = quarterly
basis(Optional) The type of day counting to use:
0 = US 30/36 (default)
1 = Actual/Actual
2 = Actual/360
3 = Actual/365
4 = European 30/360

Remarks

* The number returned from this function is always rounded up the nearest whole number.
* The "settlement" is the date a buyer purchases a coupon, such as a bond.
* The "maturity" is the date when the security expires.
* If "settlement" >= "maturity", then #NUM! is returned.
* If "settlement" is not an integer, it is truncated.
* If "settlement" is not a valid date, then #NUM! is returned.
* If "maturity" is not a valid date, then #NUM! is returned.
* If "maturity" is not an integer, it is truncated.
* If the "maturity" date has passed, then #VALUE! is returned.
* If "frequency" is not an integer, it is truncated.
* If "frequency" is any number other than 1, 2 or 4, then #NUM! is returned.
* If "basis" is left blank, then 0 is used.
* If "basis" is not an integer, it is truncated.
* If "basis" < 0, then #NUM! is returned.
* If "basis" > 4, then #NUM! is returned.
* In Excel 2003 this function was only available when you had the Analysis ToolPak add-in loaded.
* For the Microsoft documentation refer to support.office.com

 A
1=COUPNUM("1/25/1998","11/15/1999",2,1) = #VALUE!


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