Step 1:
Under Events, select Coupon.
Step 2:
Coupon's are very customizable, while creating/editing a coupon there are several customizations that are available.
Coupon must be enabled for it to be used.
Code is required, can be randomized if needed.
Discount Amount is required, can be a dollar amount or percentage.
Maximum Uses Per Subscription sets the number of times a coupon can be used.
Eligibility uses conditions to set when a coupon can be used.
Description explains what the coupon is for.
Maximum Uses Per User sets the number of times a coupon can be used for each user.
Expiration Date is the date the coupon expires. Note that the coupon expires on that date, it is not usable on that date.