below par
Definition
Bond, share, or other security selling at a price lower than its par value that is, at a discount. Bond values are stated on a scale where the face value (whatever the amount) is assigned the number 100, and the discount is shown as a factor of 100. For example, a bond with a par value $1,000 and priced at 90 is selling at $900. Also called 'at a discount.'
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