Par Value
The stated or face amount of a bond.
bond-basics
Denomination
The incremental Par amount established for a Bond Issue at which the Bonds may be purchased.
The Denomination of the Bonds is set out in the Indenture or Bond Resolution. For example, an Issue of Bonds may be issued in $5,000 Denominations, meaning for a $1,000,000 Serial Maturity, there would be 200 Bonds. Since the use of DTC Book-Entry Only Bonds has become widespread, it has become increasingly common for one Bond to be prepared for each Maturity comprising the Bond Issue. Accordingly, in the example, there would be one $1,000,000 Bond prepared for the entire Maturity.
See Also
Minimum Denomination
The lowest denomination of bond that can be purchased as authorized by the bond documents.
Start with the Bond Basics
Term of the Week
Pre-Closing
A meeting of all the parties prior to the closing, often held the day before the closing.