™A bond quoted at 98% of $1,000 face value has a clean price of $980; accrued interest can make the settlement amount different.
Bonds & Rates
Bond price
The market value of a bond, which generally moves inversely to market yields, all else equal.
Plain-English context
Put the definition to work.
Confirm whether the quote is clean or includes accrued interest, and whether its units are a percentage of face value.
Further reading and verification. Examples are hypothetical, not current quotes or recommendations. Product terms, tax treatment and market rules can change. Investor.gov — bonds and fixed income