When market interest rates are above the coupon rate on a bond, is it a premium or

Question:

When market interest rates are above the rate on a bond, is it a premium or discount bond?
Coupon
A coupon or coupon payment is the annual interest rate paid on a bond, expressed as a percentage of the face value and paid from issue date until maturity. Coupons are usually referred to in terms of the coupon rate (the sum of coupons paid in a...