Face Value
Face value (also called par value) is the amount the issuer promises to repay at a bond's maturity; it serves as the reference amount for calculating coupon payments and for quoting prices as a percentage of par (commonly $1,000).
Example: A bond with a $1,000 face value and a 6% coupon would pay $60 per year in coupons and will be redeemed for $1,000 at maturity, assuming no default.
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