COUPNUM

The COUPNUM function returns the number of coupons remaining to be paid between the settlement date and the maturity date.

COUPNUM(settle, maturity, frequency, days-basis)

settle: A date/time value or date string representing the trade settlement date, usually one or more days after the trade date.

maturity: A date/time value or date string representing the date when the security matures. maturity must be after the date specified for settle.

frequency: A modal value specifying the number of coupon payments each year.

annual (1): One payment per year.

semiannual (2): Two payments per year.

quarterly (4): Four payments per year.

days-basis: An optional modal value specifying the number of days per month and days per year (days-basis convention) used in the calculations.

30/360 (0 or omitted): 30 days in a month, 360 days in a year, using the NASD method for dates falling on the 31st of a month.

actual/actual (1): Actual days in each month, actual days in each year.

actual/360 (2): Actual days in each month, 360 days in a year.

actual/365 (3): Actual days in each month, 365 days in a year.

30E/360 (4): 30 days in a month, 360 days in a year, using the European method for dates falling on the 31st of a month.

Example
Suppose you are considering the purchase of a hypothetical security. The purchase will settle on April 2, 2010 (settle), the security matures on December 31, 2015 (maturity), and pays interest quarterly (frequency) on an actual calendar days basis (days-basis). =COUPNUM("4/2/2010", "12/31/2015", 4, 1) returns 23, because there are 23 quarterly coupon payment dates between April 2, 2010, and December 31, 2015, with the first being on June 30, 2010.

Example

Suppose you are considering the purchase of a hypothetical security. The purchase will settle on April 2, 2010 (settle), the security matures on December 31, 2015 (maturity), and pays interest quarterly (frequency) on an actual calendar days basis (days-basis).

=COUPNUM("4/2/2010", "12/31/2015", 4, 1) returns 23, because there are 23 quarterly coupon payment dates between April 2, 2010, and December 31, 2015, with the first being on June 30, 2010.

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COUPNUM