COUPNUM Function in Excel: Coupons Left Until Maturity

COUPNUM Function in Excel: Coupons Left Until Maturity featured illustration

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⏱ 2 min readUpdated 28 September 2026

FinancialLevel: ExpertAvailable in: Excel 2007+

In this article
  1. Syntax
  2. Examples
  3. Example 1
  4. COUPNUM in practice
  5. Where you will use it
  6. Worked example
  7. Mistakes people make
  8. Related functions
  9. Continue learning

COUPNUM counts coupon payments remaining.

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Syntax

=COUPNUM(settlement, maturity, frequency, [basis])
Argument What it means
frequency 1, 2 or 4.

Examples

Example 1

=COUPNUM(DATE(2021,4,1), DATE(2031,4,1), 2)

Returns 20 half-yearly coupons.

COUPNUM in practice

Where you will use it

  • Coupons left until maturity
  • Count future interest payments
  • Bond schedule checks

Worked example

SettlementMaturityFormulaResult
04-Oct-202631-Mar-2031=COUPNUM(A2,B2,2,0)9
04-Oct-202615-Jun-2028=COUPNUM(A3,B3,2,0)4
10-Jan-202631-Dec-2030=COUPNUM(A4,B4,2,0)10

Results calculated in Excel.

Mistakes people make

MistakeWhat to do instead
Settlement after maturity#NUM!
Frequency mismatchUse the bond's real payment frequency

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📎 Practice files for this article

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