The price of a convertible at the time of issuance. When the issue price is equal to the bond’s nominal value, the bond is said to be issued at par (that is, at 100% of the face value of a convertible). If a bond is issued at a price below its nominal value, it is referred to an an original issue bond (OID bond). Bonds issued above par are dubbed original issue premium bonds. Over its life, a convertible’s issue price will deviate from its nominal or face value because of market forces.