Face value

The face value of a title (Transferable security: action, obligation…), also called facial value , is that fixed at the emission.

For the actions

For the actions, the face value has a only countable direction . It is the Capital appearing in the Bilan of the company divided by the number of actions emitted by this one.

For the obligations

For the obligations,

the face value is used mathematically as capital to which the Interest rate applies (one speaks about this fact also of nominal interest ).
the face value is generally equal or rather close to the price of subscription and/or the price of refunding.

the difference between face value and price in subscription is the premium of subscription (positive or negative).
That between face value and price of refunding is the discount

Actual value against face value

Such an amount of the theoretical evaluation a title (evaluation of obligation, evaluation of action) that its actual value, in other words its Course of purse, can differ, sometimes appreciably, face value

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