At par


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References in classic literature ?
Bonds were issued, and made their appearance on 'Change; "Phileas Fogg bonds" were offered at par or at a premium, and a great business was done in them.
If the coupon and market rates are equal, the bond will trade at par. There is an inverse relationship between changes in the market rate and bond prices: As the market rate increases, the bond's price decreases, and as the market rate decreases, the bond's price increases.
As the exhibit shows, the future value of the principal is constant at par regardless of the direction of interest rates.