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Multi Carrier Modulation (MCM) is an effective and robust technique to combat IS1 in wideband signalling over multipath radio channels. In this paper, a coded MCM system is analyzed. An upper-bound is given for the average BER (Bit Error Rate) performance of the system. An expression is provided to calculate the matched-filter bounds in terms of the symbol-spaced multipath intensity profile coefficients. It is shown that the system performance meets and in some cases exceeds the matched-filter bounds provided that a proper channel coding and interleaving is used. Computer simulation is performed to support and clarify the results of analysis.