Assertion: debt instrument's issue price | /r/HasProperty | its stated principal amount
Facets:
Source sentences:
text: Notwithstanding paragraph (b) of this section, if a tax-exempt obligation (as defined in section 1275(a)(3)) is a variable rate debt instrument (within the meaning of § 1.1275-5) that pays interest at an objective rate and is subject to section 1274, the issue price of the obligation is the greater of the obligation's fair market value and its stated principal amount.
text: The amount of money paid for the debt instrument; If the debt instrument is publicly traded and is not issued for money, the FMV of the debt instrument; If the debt instrument is not publicly traded and not issued for money but is issued for property that is publicly traded (including a debt-for-debt exchange where the old debt is publicly traded), then the issue price of the debt instrument is the FMV of the publicly traded property; or If none of the above, Sec. 1274 applies and the issue price will be the stated principal amount where there is adequate stated interest.
text: However, in the case of a tax-exempt obligation that is subject to § 1.1275-4(d)(2) (an obligation that provides for interest-based or revenue-based payments), the issue price of the obligation is the greater of the obligation's fair market value and its stated principal amount.