Redemption value, also known as the par value, is the minimum price at which a security can be redeemed at the time of maturity. There are several synonyms for redemption value that are commonly used in finance and investment circles. These include face value, nominal value, and principal value. The face value of a security is the value that is printed on the face of the certificate, while the nominal value is the stated value of the security. The principal value is the amount that is borrowed or invested, and is typically returned to the investor at maturity. Regardless of the term used, understanding the redemption value is critical to making informed investment decisions.