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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 ?
Knight knows: Helen Knight, the El Cab women's golf legend who has won 39 of the club's 45 women's championships - including last year - and last month recorded her 10th hole-in-one, correctly predicted Sorenstam would win and shoot under par.
Friday's victims included 2002 Player of the Year and scoring champion Hale Irwin, whose 73 represented his first score over par all season and ended a streak of 12 rounds under par.
So it went in perfect scoring conditions at par-72, 7,025-yard Sherwood, where Furyk and a heavily jet-lagged field combined to shoot 51 under par.