Issue Price is the price at which a Sovereign Gold Bond is originally offered during RBI's subscription period.

How issue price is determined: - Based on simple average of closing price of gold (999 purity) - Uses last 3 working days before subscription period - Published in India Bullion and Jewellers Association (IBJA) rates - Discount of ₹50/gram for online applications

Issue price significance: - Interest calculated on issue price (not market price) - Used for capital gains calculation - Different from market price in secondary market - Remains constant for that SGB series

Historical context: - Early SGBs (2015-16): Issue price around ₹2,600-3,000 - Recent SGBs (2023-24): Issue price around ₹5,500-6,500