Definitions of Terms Forward Price Price (agreed or specified to today)of an item to be purchased,and paid for,at a given future date Spot Price Price of an item to be purchased (and paid for)or for immediate delivery. Face Value 'Quantity of deliverable'times 'forward price' THE COURSE OF FINANCE 2017 SPRING SJTU 5Definitions of Terms  Forward Price  Price (agreed or specified to today) of an item to be purchased, and paid for, at a given future date  Spot Price  Price of an item to be purchased (and paid for) or for immediate delivery.  Face Value  ‘Quantity of deliverable’ times ‘forward price’ THE COURSE OF FINANCE 2017 SPRING SJTU 5