Obviously, the amount you will receive at maturity will be higher or lower than the amount you paid for each of these bonds, that is, whether you paid more (i.e., premium) or less (i.e., discount) for...

Obviously, the amount you will receive at maturity will be higher or lower than the amount you paid for each of these bonds, that is, whether you paid more (i.e., premium) or less (i.e., discount) for them. Buy-and-hold investors must find those bonds that match their desired qualities in terms of credit risk, maturity, and coupon rate as well as important options (such as call or put options).