Plain par investment

Plain par investment means an investment that is an obligation -
(1) Issued with not more than a de minimis amount of original issue discount or premium, or, if acquired on a date other than the issue date, acquired with not more than a de minimis amount of market discount or premium;
(2) Issued for a price that does not include accrued interest other than pre-issuance accrued interest;
(3) That bears interest from the issue date at a single, stated, fixed rate or that is a variable rate debt instrument under section 1275, in each case with interest unconditionally payable at least annually; and
(4) That has a lowest stated redemption price that is not less than its outstanding stated principal amount.


26 CFR § 1.148-1

Scoping language

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