What bond was sold below face value?

A bond sold below face value is referred to as a "discount bond." This typically occurs when the bond's coupon rate is lower than current market interest rates, making it less attractive to investors at face value. As a result, the bond is sold at a discount to entice buyers, who will receive the face value upon maturity, resulting in a higher effective yield. An example of this is U.S. Treasury bills, which are often sold at a discount to their face value.