The term "par value" or simply "par" is frequently used to refer to the face value of bonds.
The bond price is determined by the bond's selling date, maturity date, coupon rate, redemption price, and market rate. The coupon rate is based on the market rate on the date the bond is issued, therefore these two rates are the same. The bond's price is therefore equal to its face value.
Bond issuers enter into a contract with investors known as a call feature or call provision. This arrangement is set up in a legal document known as an indenture.
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