Face price, also known as par value, refers to the nominal value of a financial instrument, such as a stock or bond, as stated on its certificate or contract. It is the original price at which the instrument was issued and does not take into account any market fluctuations or interest rates. The face price is typically used as a reference point for determining the value of the instrument and is often different from its current market price. It is an important factor to consider when making investment decisions, as it can impact the potential return and risk associated with the instrument.