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

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

 settlement The settlement date of the security. maturity The maturity of the security. frequency The number of coupon payments in a year:1 = annual2 = semi annual4 = quarterly basis (Optional) The type of day counting to use:0 = US 30/36 (default)1 = Actual/Actual2 = Actual/3603 = Actual/3654 = 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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