Bonds may not always be issued at face value. If a bond is issued at less than face value, what can be concluded about the bond? The price of the bond is undervalued in comparison to other bonds in the marketplace. The bond was issued at a discount, and the issue price was less than 100% of the face value. The bond was issued at a discount, and the issue price was greater than 100% of the face value. O The bond was issued at a premium because the market rate was higher than the contractual rate