below par

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Below par

Less than the nominal or face value of a security.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Below Par

Describing a bond that is issued or sold at a price below its face value. For example, a bond with par of $10,000 might be issued to an investor for $7,000. All zero-coupon bonds are issued below par.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

below par

Of or relating to a security that sells at less than face value or par value. For example, a $1,000 par bond with a market price of $850 is below par. Likewise, a $100 par preferred stock with a market price of $80 is below par. Fixed-income securities usually trade below par because market rates of interest are higher than they were when the securities were issued. Compare above par. See also discount bond.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
References in periodicals archive ?
| BELOW PAR : Many shops have not been attracting high sales this Christmas
energy giant Enron, fell below par value when financial markets were rocked by the news that Enron was on the verge of collapse.
8 March 2012 - Royal Bank of Canada (TSE:RY; NYSE:RY), or RBC, yesterday issued USD1.25bn (EUR943m) of three-year bonds below par, at 99.968%, said Thomson Reuters publication IFR.
However, the black level response is below par, leaving dark scenes looking an unwanted shade of grey.
Karachi, Sept.14 (ANI): Former Pakistan leg-spinner Abdul Qadir has blamed poor and bad management for the national team's below par performance in the Test and one-day series in England.
I hope Wolves fell below par and don't play like that all the time.
"We had players out there who were basically below par because of the epidemic in the club.
Hiddensee (2.40 Newbury) Below par at York on latest start, but progressive before that and expected to shape better now.
Gudjonsson's performance against Sunderland was way below par and doesn't justify his selection for Cardiff.
Stewart and Kyle seemed below par but some of the play down the left between Arca and Downing was a joy.
OXFORD boss Ian Atkins admitted his side did not deserve to take anything after a below par performance.
Nikko Asset's MMFs -- the equivalent of money market funds in the U.S., have fallen below par value because the bonds issued by Enron have become worthless.