Bonds are issued at the nominal value, which may be above or below the market price.

The nominal (or face) value of a bond is the "sales unit" price printed on the security. The bond can be purchased at this price when it’s issued. The nominal value can differ from the market value.

When issuing a bond with fixed coupon, the issuer promises to pay the same amount of interests (expressed as a percentage of the nominal value) on prespecified dates. At maturity, the principal along with the last interest payment will be repaid.

Zero coupon bonds do not pay interests. These bonds are sold for less than the nominal value, and the issuer promises to repay the nominal value at maturity.

The cheaper the bond, the wider range of investors it can target, and the easier to find sellers or buyers.

Small investments

The nominal value of the bonds is between $1,000 and $10,000 (or other currency in the same range of value).

Average investments

The nominal value of the bonds is between $10,000 and $50,000 (or other currency in the same range of value).

Large investments

The nominal value of the bonds is above $50,000 (or other currency in the same range of value).