A facile protocol for the one-pot, multicomponent reaction of indole, 4-hydroxycoumarin, and aromatic aldehydes was developed using copper octoate as an inexpensive, commercially available, and efficient catalyst. This highly selective reaction eliminates the formation of homodimeric by-products (bisindoles and biscoumarins) and selectively results in the formation of heterodimeric adducts containing both indole and coumarin heterocycles.