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Equal to the nominal or face value of a security. A bond selling at par is worth an amount equivalent to its original issue value or its value upon redemption at maturity-typically $1000/bond. See: Discount, premium.


1. Of equal value. The word is often used in relation to pegged currencies; that is, if one currency pegs itself to another at par, it means that the central bank has declared that the currencies are of equal value.

2. The full price of a bond. This is usually, but not always, $1,000 per bond. Coupon payments are calculated as a percentage of par. Likewise, bonds are often traded as a percentage of par. For example, one may buy a bond at 95% of par, meaning that the investor pays $950. It is also called face value.



See par value.
References in periodicals archive ?
All Uphoria 2 LED PAR lamps operate on 120V with Warm White (2700K and 3000K) color temperatures and a very high color rendering (90+).
All new PAR lamps are ENERGY STAR qualified in Warm White color temperature (CCT) with efficacies upwards of 66 LPW.
Halogen lamps are available in A-lamp, PAR lamps and small T-lamps.
today announced approval of Lighting Design Lab (LDL) on their iBright[TM] G5 EPS HO LED Tube and Energy Star on their eLucent[TM] R30T and R38T LED PAR lamps.
Recently, my company recommended the replacement of 500-W incandescent lamps in the downlights of a high school auditorium with 24-W LED PAR lamps and achieved higher illuminance levels, better lamp cut-off and less maintenance.
Satco's new Soft Ray frosted halogen bulbs eliminate the glare and hot spots associated with regular MR16 and PAR lamps.
Moreover, EnduraLED BR and PAR lamps with Airflux technology eliminate traditional heat sincs, offering a more streamlined lamp that integrates into ceilings.
The efficiency and long life of the Wavien PAR 38 and PAR 20 give the consumer a new choice for low cost and high performance PAR lamps.
The LES can be reduced by 50% compared to that on conventional COB; hence this product is especially suitable for professional lighting where high brightness and concentrated lighting angle are necessary, such as PAR lamps and track lights.
Each bulb format, from the small candelabra bulbs to larger PAR lamps, can be easily and directly addressed with the portfolio.
And cooler LEDs allow for a range of lamp improvements that would make LED PAR lamps even more attractive to buyers, including better color stability, longer lifetimes, smaller heatsinks, higher output and higher center beam intensity.