nominal amount of a debt obligation (e.g., note, bond, mortgage) or equity security as stated in the instrument. It excludes interest and dividends. The face value of an instrument is often different from its issuance price; for example, a bond may be issued at a BOND DISCOUNT or BOND PREMIUM. Also, after issuance the going market price of an instrument will  typically differ from its face value. At MATURITY, the debt instrument will beredeemed at its face amount. The nominal amount of a share of stock represents its PAR VALUE or stated value.