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Par
(redirected from Under par)

   Also found in: Dictionary/thesaurus, Medical, Legal, Encyclopedia, Wikipedia 0.01 sec.
Par
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.

Par
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.

PAR

par
See par value.


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Earlier Gary Orr birdied four of his closing five holes in a 68 for a six under par tally.
Stenson had started the day just one stroke off the top at four under par but struggled in the windy conditions at the Shanghai Pudong Golf Club to drop to level par overall, five shots off the pace.
Byline: BY TREVOR PEAKE Daily Post Correspondent THE long holes were the key to Lee Slattery's impressive performance in his first ever Open Championship at Royal Liverpool, where his four under par total of 282 gave him a very respectable share of 26th place.
 
 
 
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