premium bond: a bond that trades above its face value/market value/par value and its coupon rate is greater than the market interest rate. 

For example, a bond that was issued at a face value of $1,000 might trade at $1,050 or a $50 premium.

discount bond: a bond that trades below its par value and its coupon rate is less than the market interest rate. 

For example, a bond with a $1,000 face value that’s currently selling for $95 would be a discounted bond.

bonds sold at par: a bond that trades equal to its par value and its coupon rate is equal to the market interest rate. 

For example, a bond with 1000 face value and traded at 1000.