The amount printed on the bond and repaid at maturity
The face value is the amount written on the bond and repaid on the maturity date. Interest is calculated from this amount, not from what you paid. The market price moves separately and can sit above or below the face value depending on interest rates and credit quality. Prices are usually quoted per fixed unit of face value.
Buy a bond with a face value of 100 for 98, and the 2 difference is yours as well when 100 comes back at maturity.
Japan — In Japan bond prices are quoted per 100 yen of face value.
South Korea — On the Korea Exchange bond market, orders are quoted in units of ₩10,000 of face value (as of 2026).
For learning, not investment advice. Decisions are your own.
StockFit · TrueNorthLabs Inc.