Bond - Security that obligates the issuer to make specified payments to the bondholder.
Coupon - The interest payments made to the bondholder.
Face Value (Par Value or Principal Value) - Payment at the maturity of the bond.
Coupon Rate - Annual interest payment, as a percentage of face value.
The coupon rate IS NOT the discount rate used in the Present Value calculations. The coupon rate merely tells us what cash flow the bond will produce.
The price of a bond is the Present Value of all cash flows generated by the bond (i.e. coupons and face value) discounted at the required rate of return.