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From: Par value - Wikipedia, the free encyclopedia
Shouldn't the sentence be changed so:
Isn't this misleading? If the bond pays coupons, there's a last coupon payment at maturity, and it certainly isn't "stated on the face of the bond".In the U.S. bond markets, the Par Value (as stated on the face of the bond) is the amount that the issuing firm is to pay to the bond holder at the maturity date.
Shouldn't the sentence be changed so:
In the U.S. bond markets, the Par Value (as stated on the face of the bond) is the amount that the issuing firm is to pay to the bond holder at the maturity date minus a possible coupon payment (if a coupon is paid at maturity).