Redemption value
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Redemption value is the price at which the issuing company may choose to repurchase a security before its maturity date. A bond is purchased "at a discount" if its redemption value exceeds its purchase price. It is purchased "at a premium" if its purchase price exceeds its redemption value. Thus, the right will only be exercised at a discount. See: Callable bond; Embedded option; Convertible bond.
Redemption value is the price at which the issuing company may choose to repurchase a security before its maturity date. A bond is purchased "at a discount" if its redemption value exceeds its purchase price. It is purchased "at a premium" if its purchase price exceeds its redemption value. Thus, the right will only be exercised at a discount. See: Callable bond; Embedded option; Convertible bond.
References
Text derived from https://en.wikipedia.org/w/index.php?oldid=1361352852 under CC BY-SA 4.0; modifications have been made.