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COUPNUM

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

Description: Computes the number of coupons payable between the settlement date and maturity date, rounded up to the nearest whole coupon.

Arguments:

Name

Type

Description

settlement

number

The security's settlement date.

maturity

number

The security's maturity date.

frequency

number

The number of coupon payments per year. For annual payments, frequency is 1; for semiannual payments, frequency is 2; for quarterly payments, frequency is 4. frequency is truncated to an integer.

basis

number

The truncated integer type of day count basis to use, as follows:

Value

Day Count Basis

0 or omitted

US (NASD) 30/360

1

Actual/actual

2

Actual/360

3

Actual/365

4

European 30/360

 

 

Time information in the date arguments is ignored.

Return Type and Value: number – The number of coupons payable between the settlement date and maturity date, rounded up to the nearest whole coupon.

However, if

settlement or maturity is out of range for the current date base value, #NUM! is returned.

settlement ≥ maturity, #NUM! is returned.

frequency is any number other than 1, 2, or 4, #NUM! is returned.

basis < 0 or basis > 4, #NUM! is returned.

[Example:

COUPNUM(DATE(2007,1,25),DATE(2008,11,15),2,1) results in 4

end example]