Par

1.

The face value of an interest bearing instrument.

A bond whose market yield is equal to its coupon rate trades in the market at a value of par (= the face value).

2.

The value of an ordinary share (or a unit of common stock) for legal purposes.

See also

• Coupon rate
• Deep discount issue
• Face value
• Forward
• Nominal value
• Par bond
• Par rate
• Par value
• Par yield
• Redemption
• Share capital
• Zero