Investment Studio > Expressions > Functions > Financial > COUPNUM
float coupnum(date settlement_date, date maturity_date, integer coupons_per_year, integer day_count_basis = 0)
Returns the remaining number of coupon payments from the settlement date to the maturity date.
settlement_date is the date (>= the issue date) when the security is traded.
maturity_date is the date when the security expires.
Automatic type conversion allows the use of date strings as arguments instead of explicit date values.
coupons_per_year is the number of coupon payments made in a whole year. It must be one of the following integer values: 1 (annual), 2 (semiannual) or 4 (quarterly).
day_count_basis specifies the calendar convention used to count days and compute the corresponding fraction of a year:
| day_count_basis | Interpretation |
| 0 | US (NASD)
30/360: If the start date is the 31st of a month, it's
set to the 30th of the same month. If the end date is the
31st of a month, it's set to the 30th of the same month
unless the start date is less than the 30th of a month,
in which case the end date is set to the 1st of the next
month. The denominator used to compute the fraction of a year is 360. |
| 1 | Actual calendar days are counted and used to compute the fraction of a year. |
| 2 | Actual calendar days are counted. The denominator used to compute the fraction of a year is 360. |
| 3 | Actual calendar days are counted. The denominator used to compute the fraction of a year is 365. |
| 4 | European 30/360: Start and end dates that occur on the 31st of a month are set to the 30th of the same month. The denominator used to compute the fraction of a year is 360. |
If day_count_basis is omitted, it defaults to 0 (NASD-style 360/30).
Example
Consider a bond with the following properties:
Assuming standard US date format settings, the remaining number of coupon payments on the settlement date is
=coupnum("6/15/2002", "10/30/2005", 2, 1)
= 7.
See also coupdaybs, coupdays, coupdaysnc, coupncd, couppcd.