Face-amount certificate
Definition
A debt security issued by face amount. The holder makes payments periodically to the issuer, and the issuer promises to pay the purchaser the face value at maturity or the surrendered value if the security is presented at the maturity specified in the certificate.
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Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University
Term of the Day
Registration
In the securities market describes process set up pursuant to the Securities Exchange Acts of 1933 and 1934 whereby securities that are to be sold to the public are reviewed by the SEC.
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