The COUPNUM function in Google Sheets is a valuable tool for investors and analysts. This function helps determine the total number of coupon payments made between the settlement date and the maturity date of a bond or similar investment, providing essential information for financial planning and analysis.

Syntax

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

• settlement: The date on which the buyer acquires the security.
• maturity: The date on which the security expires.
• frequency: The number of times coupon payments are made per year. Possible values are 1 (annual), 2 (semi-annual), or 4 (quarterly).
• [basis]: An optional parameter that specifies the day count basis to be used. If omitted, it defaults to 0 (US 30/360).

Example #1

COUPNUM("2023-01-01", "2025-01-01", 2)

This function calculates the number of semi-annual coupon payments between January 1, 2023, and January 1, 2025. The result would be 4 payments.

Example #2

COUPNUM("2022-06-01", "2029-06-01", 1)

This function calculates the number of annual coupon payments from June 1, 2022, to June 1, 2029. The result would be 7 payments.

Example #3

COUPNUM("2023-04-01", "2026-04-01", 4, 1)

This function determines the number of quarterly payments between April 1, 2023, and April 1, 2026. The result would be 12 payments.

Error handling

• VALUE!: Indicates that at least one of the arguments is not valid, such as an incorrect date format.
• NUM!: This error arises when the provided dates are out of range or impossible to compute based on the frequency specified.
• NAME!: Occurs if the function name is incorrectly entered or not recognized in Google Sheets.

Conclusion

The COUPNUM function is an essential tool in Google Sheets for assessing the number of coupon payments on bonds or securities, aiding in investment decision-making and financial analysis. Understanding how to use this function effectively can empower investors to make informed choices regarding their fixed-income investments.