Par

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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.
References in periodicals archive ?
WHEN the Chronicle stated it was "a shock U-turn" by Newcastle Council in cancelling a new Greenmarket in Eldon Square, it was in fact par for the course for this council when it comes to small traders.
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Operation IF you're a surgeon, or involved in medicine dreaming of a medical operation may be par for the course. But for the rest of us dreaming about having an operation can be forewarning of a drastic lifestyle change.