What do a bond's face value and coupon rate mean?

Face value (nominal value) is the principal stated on the bond; it is the basis on which the issuer calculates interest and the amount repaid at maturity.

The coupon rate is the interest rate the issuer has promised to pay, based on face value. The price at which a bond trades in the market may differ from its face value, so your actual investment return depends on the purchase price.