A bond resulting from a corporate action distribution having a par value of less than $1,000 is typically referred to as a:

A bond that has a par value of less than $1,000 is typically referred to as a baby bond. Baby bonds are specifically designed to be accessible to individual investors who may not have the capital to invest in full-sized bonds, which generally have a par value of $1,000 or higher. This accessibility allows for broader participation in fixed income markets, making these types of bonds a valuable option for smaller investors.

Baby bonds often have smaller denominations, which can range from $100 to $950, thus making them an attractive alternative to traditional bonds. They may also come with similar interest payments or yields as standard bonds, allowing investors to still benefit from fixed income exposure.

This terminology distinguishes these smaller-denomination bonds from other types of bonds and financial instruments, ensuring clarity regarding their nature and intended market. The term "baby bond" highlights the reduced risk associated with investing smaller amounts compared to buying full-sized bonds.