Sports The number of golf strokes considered necessary to complete a hole or course in expert play. The bonds were priced at par with an initial yield of 4.4%. While the par value of a corporate bond is usually stated as either $100 or $1,000, municipal bonds typically have par values of https://1investing.in/ $5,000. One of the most important characteristics of a bond is its par value. The par value is the amount of money that bond issuers promise to repay bondholders at the maturity date of the bond. A bond is essentially a written promise that the amount loaned to the issuer will be repaid.
A bond’s yield is calculated as coupon rate / current bond price. Due to the constant fluctuations of interest rates, bonds and other financial instruments almost never trade exactly at par. A bond will not trade at par if current interest rates are above or below the bond’s coupon rate, which is the interest rate that it yields. They could also be issued at a premium or at a discount depending on the level of interest rates in the economy.
Has meant “that which is equal” since the mid-1600s; the idiom here was first recorded in 1832. Selling Institution The entity obligated to make payments to the Issuer under the terms of a Participation Interest. Designated Purchaser has the meaning set forth in Section 2.4.
It is used to indicate the manner in which something is done, the reason behind an event, the direction something moves, or the amount of something per some unit of measurement. In everyday conversation, you might use par when giving directions to someone or to describe how an event occurred. An additional 325 million of gross loans have been deleveraged at par value since March 2013, through redemptions or refinancing from third parties. LiveAbout is part of the Dotdash Meredith publishing family. Brent Kelley is an award-winning sports journalist and golf expert with over 30 years in print and online journalism.
Without those expectations comes doubts, they will feel as if you let them down. It is possible that Par is a derivative of the term Faux Pas, which in french literally means a ‘False Step’ against the established norm. When something happens to you that is considered by many to be an extremely rude breach of social standard.
Idioms about par
Unfortunately, such short-sightedness is par for the course these days. The par ty’s 1948 second congress gave more definite shape to the factions. Who par ticipants “are” – in demographic, social network, and even ethnographic terms – receives little attention. The absorbed par t of the radiation could be taken into account by increasing with time the internal energy of plasma. Good scores were available, and 54 players broke par, 26 of them with rounds in the 60s.
For the bond above, the coupon rate is equal to the market interest rate. In such a scenario, a rational investor would only be willing to purchase the bond at par to its face value because its coupon return is the same as the current interest rate. In other words, since the bond is generating a return equal to the market interest rate, investors would not be willing to offer a premium or require a discount – the bond is priced at par. If coupon rate equals the interest rate then the bond will trade at its par value. However, if interest rates rise then the price of a lower-coupon bond must decline to offer the same yield to investors, causing it to trade below its par value. Conversely, if interest rates fall then the price of a higher-coupon bond will rise and trade above its par value since its coupon rate is more attractive.
James Chen, CMT is an expert trader, investment adviser, and global market strategist. Such premium amortization is not available for tax-free bonds purchased at a price above par. As the interest rate continually fluctuates, par bonds are uncommon to see. “Par” is also used to describe a golfer’s scoring performance on an individual hole or for a complete round of golf. If you complete a par-4 hole having used four strokes, then you are said to have “parred the hole.” This is also referred to as being “even-par” or “level par.” In this case, it means that five is the number of strokes an expert golfer is expected to need to finish play of that hole.
Examples of at par
Par value, also known as nominal value, is the face value of a bond or the stock value stated in the corporate charter. To be able to shoot par on every hole and for the course is the sign of a high-class golfer. If you are 1 stroke under par it is a birdie, two strokes under par it is an eagle, one stroke over par it is a bogey, and two strokes over par it is a double bogey. The par term is also used in other sports that revolve around strokes such as disc golf and footgolf . The established or recognized value of the money of one country in terms of the money of another country, based on a metal accepted as the common standard of value. An example of par used as an adjective is in the phrase “par score” which means a score that is equal to the standard.
- Investors expect a return equal to the coupon for the risk of lending to the bond issuer.
- If the issuer receives less than the face value for the security, it is issued at a discount.
- If the issuer receives more than the face value for the security, it is issued at a premium.
Purchasing Bank shall have the meaning assigned to that term in Section 9.05 hereof. A PAR Study Group is formed as a subgroup of the Sponsor, and is subject to all relevant operating procedures concerning subgroups of the Sponsor and parent bodies, including the IEEE-SA Standards Board. A PAR must be received by the IEEE-SA Standards Department at least 40 calendar days before the next IEEE-SA Standards Board meeting. It can be exchanged at par with other sterling coinage and notes (see also “sterling zone”).
Par Value of Stocks
For example, a bond with a face value of $1,000 that is currently trading at $1,020 will be said to be trading at a premium, while another bond trading at $950 is considered a discount bond. In the case of equity, the par value has very little relation to the shares’ market price. Par value for a share refers to the stock value stated in the corporate charter. Shares usually have no par value or very low par value, such as one cent per share. Jiwon Ma is a fact checker and research analyst with a background in cybersecurity, international security, and technology and privacy policies. Before joining Dotdash, she consulted for a global financial institution on cybersecurity policies and conducted research as a Research Analyst at the Belfer Center for Science and International Affairs.
They can change your life and make you the happiest girl you never saw yourself as. Someone you would cry all night over and do it over and over again. He is someone you would want to marry, someone I’d call the man of my dreams. But with love comes expectations, par is a guy who expects you to do what he says. Like telling him everything and not to lie or to even eat and sleep.
Direct Assignment Facilities means facilities or portions of facilities that are constructed for the sole use/benefit of a particular Transmission Customer requesting service under the Tariff. Direct Assignment Facilities shall be specified in the Service Agreement that governs service to the Transmission Customer and shall be a par meaning subject to Commission approval. Purchasing Lenders shall have the meaning set forth in Section 9.6. Purchasing CLO shall have the meaning set forth in Section 16.3 hereof. Original Lender shall have the meaning assigned to such term in the recitals. Purchasing Lender shall have the meaning set forth in Section 16.3 hereof.
The number of golf strokes set as a standard for a specific hole or a complete course. Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in oureditorial policy.
Looking for sentences with “at par”? Here are some examples.
Say, an investor purchases a bond for $950 and another investor purchases the same bond for $1,020. On the bond’s maturity date, both of the investors will be repaid $1,000 par value of the bond. Par is a golf term that refers to the amount of strokes a professional golfer should need to complete a hole on a course. The par score is posted for each hole so golfers can attempt to match or better the number.
The number of golf strokes considered necessary to complete a hole or course in expert play. The definition of par is normal, or equal to the standard. The value assigned to represent par for an individual hole is always comprised of two putts plus the number of strokes it should take an expert golfer to reach the green. Holes typically are listed as par-3, par-4 or par-5, although par-6 is also occasionally encountered. A par-4 hole is going to be longer than a par-3 hole, and a par-5 longer than a par-4 . If prevailing yields are lower, say 3%, an investor is willing to pay more than par for that 5% bond.
He always believed that they should be given an equal chance to grow, live and prosper at par with the other privileged people. The academy has been equipped with state of the art training facilities, at par with other pre-commissioning training institutions. With the performances of Cam Newton, Kirk Cousins and Matthew Stafford over that same time span. And premium and discount and three quarters and seven eighths. Their performance was way above par for an amateur production.
Aside from setting the maturity value, the par value also determines the dollar value of coupon payments. If a company issues a bond with a 5% coupon, but prevailing yields for similar bonds are 10%, investors will pay less than par for the bond to compensate for the difference in rates. The bond’s value at its maturity plus its yield up to that time must be at least 10% to attract a buyer. The coupon rate of a bond as compared to the interest rates in the economy determines whether a bond will trade at par, below par, or above its par value.