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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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.


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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved



See par value.
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 ?
En la revision por pares se somete un manuscrito al criterio de uno o mas arbitros expertos en el tema, los que evaluan el escrito y sugieren al Editor una conducta relacionada con la aceptacion -con o sin observaciones- o el rechazo, (3) aunque esto no quiere decir que los editores esten obligados a cumplir con las recomendaciones de los revisores.
Pares, who got so set-back by Al Dah's body shots in the second that he picked the Emirati up by his legs and performed an illegal pile-drive, said: "I was thinking I'd have an easy fight but that big right hand was too strong.
Plasse confronted the Pares at their home in a heated exchange.
Christopher Petrillie is an 8th-degree Doce pares Eskrima black belt master and in "Cutting The Lines: The Vicious Compression Locks of Doce Pares Eskrim" he takes up where he left off in his earlier marital arts instruction DVD "Crashing The Lines".
Las exportaciones de havaianas se dispararon de cero hace solo tres anos a 20 millones de pares el ano pasado.