™A bond with $1,000 face value can trade for $950; face value is the contractual principal reference, not its current market price.
Bonds & Rates
Face value
The principal amount an issuer agrees to repay at a bond’s maturity, subject to credit risk.
Plain-English context
Put the definition to work.
Face value is contractual principal, not a guaranteed sale price or the amount you originally paid.
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