Maturity / Redemption Value is the amount paid by the issuer at maturity other than coupon / Interest payment. If the redemption proceeds are more than the face value of the Bond/NCD, they are said to be redeemed at a premium. If redemption proceeds are less than the face value, then they are said to be redeemed at a discount and if the proceeds are the same as their face value, then they are redeemed at par.