Definitions Face Value


For each outstanding bond, Face ($000): Principal of the issue. If the face is $11,040,000 then $11.04M in bonds were issued (unless a portion of the bond was paid off before maturity). Using the 15.4S2006 bond with a face value of $11.04M as an example, coupons of 15.4% or a total of $1,700,160 will be paid each year until the bond becomes due in 2006. In 2006, the last coupon and the principal are due. The principal is converted automatically to Current (short term) Debt on December 31 of the year it is due.