face-amount certificate

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Face-amount certificate

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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Face-Amount Certificate

A debt security with a face value printed on its certificate. A face-amount certificate obligates the issuer to pay the face value to the holder of the security at its maturity. Face-amount certificates ordinarily have face values of $1,000, though this may be higher or lower depending upon the issue.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

face-amount certificate

Debt issued by a face amount certificate company obligating the issuer to redeem the certificate at face value at maturity. The buyer makes installment payments that earn interest over the life of the certificate.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
References in periodicals archive ?
SBMCC's predecessor company dates back to 1914, and over 2,000 SBM face-amount certificates are presently outstanding to certificate holders in multiple states.