The par value of a bond is the value of that bond at its maturity. It represents what the firm must pay the bondholder when the bond matures.

Name: The par value of a bond is the value of that bond at its maturity. It represents what the firm must pay the bondholder when the bond matures.
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This is correct. The par value is also known as the face value or nominal value. It is typically set at $1,000 for corporate bonds and represents the amount the bondholder will receive at the bond's maturity.

The Par Value of a Bond Is the Value of That