parpar /pɑːpɑːr/ noun [uncountableU]1FINANCE 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)SYN FACE AMOUNT, FACE VALUE, NOMINAL VALUEat/above/below/under parThe 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 theirpar value.
2below/under par (also not up to par) to be less good than usual or below the proper standardSYN SUBPARThe casinos are not performing up to par because the entire economy is suffering.
3be on a par (with) to be at the same level, value, or standardThe free trade agreement between the US and Turkey would be on a par with the one the US has signed with Canada.