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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.

Investing Essentials


Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

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Market maker

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