Question

commercial papers are sold at ___ and redeemable at its face value​

Answer 1

Commercial paper is a commonly used type of unsecured, short-term debt instrument issued by corporations, typically used for the financing of payroll, accounts payable and inventories, and meeting other short-term liabilities. Maturities on commercial paper typically last several days, and rarely range longer than 270 days.1 Commercial paper is usually issued at a discount from face value and reflects prevailing market interest rates.