COUPNUM
How many coupons a bond still pays between settlement and maturity.
Group: Financial. Compatible with DAX.
Syntax
COUPNUM ( <settlement>, <maturity>, <frequency> [, <basis>] )| Parameter | Type | Description |
|---|---|---|
settlement | Date | The day the buyer takes the security over; later than its issue. |
maturity | Date | The day the security ends and its face value is repaid. |
frequency | Whole number | Coupons a year: 1 for yearly, 2 for half-yearly, 4 for quarterly. |
basis | Whole number optional | The day count, by number: US 30/360 (0, when left out), actual/actual (1), actual/360 (2), actual/365 (3) or European 30/360 (4). |
Returns
Whole number. How many coupons are still to be paid between settlement and maturity, the last included.
Remarks
- A coupon period that has already begun counts as a whole one: its coupon is still to come.
- Coupons fall on maturity's day of the month, stepping back from maturity by 12 / frequency months. When maturity is the last day of a month, every coupon date is a month's last day too.
- A settlement on or after maturity is an error. The dates are taken as whole days. frequency and basis are rounded to whole numbers first; a frequency other than 1, 2 or 4, or a basis outside 0 to 4, is an error.
Examples
Coupons left at three frequencies
From 25 January 2007 to 15 November 2008.
EVALUATE
ROW (
"Yearly", COUPNUM ( DATE ( 2007, 1, 25 ), DATE ( 2008, 11, 15 ), 1, 1 ),
"Half-yearly", COUPNUM ( DATE ( 2007, 1, 25 ), DATE ( 2008, 11, 15 ), 2, 1 ),
"Quarterly", COUPNUM ( DATE ( 2007, 1, 25 ), DATE ( 2008, 11, 15 ), 4, 1 )
)| Yearly | Half-yearly | Quarterly |
|---|---|---|
| 2 | 4 | 8 |