PAR

1 - The standard delivery point or points. 2 - The quality of commodity represented in the contract that is deliverable at contract price. Serves as a benchmark upon which to base discounts or premiums for varying quality.3- For debt securities, including U.S. Treasury securities, the face value of the instrument. Chicago Mercantile Exchange Glossary

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par par [pɑː ǁ pɑːr] noun [uncountable]

1. FINANCE the par value of a bond, share etc is its stated value when it is Issued (= sold for the first time). This is not necessarily the actual price paid for it. Bonds, for example, may be sold slightly above or below this value. The par value of bonds is used to calculate yield (= their profitability to the investor); = FACE AMOUNT; FACE VALUE; NOMINAL VALUE:

par at/​above/​below/​under par

• The notes are trading at 10% above par, or $1,100 for each $1,000 face amount.

• If the bond is trading below par, the issuer is likely to repurchase the bond in the market.

• The bonds, which carry a coupon of 5.5%, were trading at about 97% of their par value.

2. below/​under par also not up to par to be less good than usual or below the proper standard; = SUBPAR:

• The casinos are not performing up to par because the entire economy is suffering.

3. be on a par (with) to be at the same level, value, or standard:

• The free trade agreement between the US and Turkey would be on a par with the one the US has signed with Canada.

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par UK US /pɑː^r/ noun [U]

► (also nominal price) FINANCE the original value of a share, bond, etc. when it is first available for sale: at par »

The bonds were priced at par with an initial yield of 4.4%.

a par value of sth »

The Board of Directors authorized the designation of 1,000,000 shares of stock, with a par value of $0.10 per share.

● under/below/sub par — Cf. under/below/sub par

● on a par with sb/sth — Cf. on a par with sth

● par for the course — Cf. par for the course

→ See also PAR BOND(Cf. ↑par bond)