CoupNum

Syntax

CoupNum(Settlement, Maturity, Frequency[, Basis])

Parameters

Settlement. The security's settlement date. This date is later than the issue date (the date, when the securities were sold to the buyer).

Maturity. The security's maturity date. The maturity date is the date when the security expires.

Frequency. The number of payments for coupons in a year. This parameter may take the following values:

Basis. The day calculation method used. It is set in the range from 0 to 4:

Optional parameter.

NOTE. To determine the parameter, specify either the parameter value or the cell address where it is located.

Description

It returns the number of coupons payable between the settlement date and maturity date that is rounded to the nearest integer number of coupons.

Comments

The value of the Settlement parameter must be less than value of the Maturity parameter.

The agreement date is the date when a coupon (for instance, a bond) was sold to a buyer. The payment date is the coupon expiry date. For example, a bond with duration of 30 years was issued on Jan 1, 2008 and was acquired by a buyer in 6 months after the issue date. The issue date is January 1, 2008, the calculation date is July 1, 2008 and the maturity date of this bond is January 1, 2038, that is, 30 years after the date.

Example

Formula Result Description
=CoupNum("01.01.2008", "01.06.2008", 1) 1

The number of coupon payments based on the following terms:

  • The calculation date is 01.01.2008.

  • The maturity date is 01.06.2008.

  • Annual coupon payments.

  • The used method of day calculation - American.
=CoupNum(A0, B0, 1,4) 1

The number of coupon payments based on the following terms:

  • The settlement date is specified in the A0 cell, 01.01.2007.

  • The maturity date is specified in the B0 cell, 01.10.2007.

  • Annual coupon payments.

  • The used method of day calculation - European 30/360 days.

See also:

Function Wizard │ Financial Functions │ CoupDayBs │ CoupDays │ CoupDaysNc │ CoupNcd │ CoupPcd