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We use idioms A LOT in conversational American English. Learn some of the idioms that relate to golf with the word ‘par’ in this video, shot with the help of my dad. A bond’s par value is its face value, the price that it was issued at. Most bonds are issued with a par value of $1,000 or $100. Over time, the bond’s price will change, due to changes in interest rates, credit ratings, and time to maturity. When this happens, a bond’s price will either be above its par value (above par) or below its par value (below par).

Word History and Origins

But it looks like it is used more across the pond in the beautiful British Isles. However, if you are writing an academic at par meaning in english piece, I’d avoid it altogether and use “at the same level”.

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1. Investors expect a return equal to the coupon for the risk of lending to the bond issuer.
2. However, if you’re using it more formally, you will want to ensure you’re using it correctly.
3. This means you’re taking something out of its context to describe it in its own right.
4. A bond’s yield is its effective rate of return when the bond’s price changes.
5. For example, “He wasn’t angry, per se, he just wasn’t happy about it”.
6. The par value of stock has no relation to market value and, as a concept, is somewhat archaic.when?

A bond’s yield is its effective rate of return when the bond’s price changes. A bond’s yield is calculated as coupon rate / current bond price. The yield for bonds and the dividend rate for preferred stocks have a material effect on whether new issues of these securities are issued at par, at a discount, or at a premium. The misuse of the term is widespread, so it is an easy mistake to make. If you’re here, you can learn how it should be used so you can confidently use it in the future. We’ll cover how it’s often misused, examples of correct usage, and how to use it in a sentence.

Idioms with PAR — How to Pronounce and Use

You have identified a discrepancy, but once again this is a case where the context is all important.Given that par means average, the goal in golf is to finish using the least number of strokes, so in this case below par is a good result. Therefore something below par is below average, or below the acceptable standard – hence the usual, negative, meaning of the phrase. The shares in a corporation may be issued partly paid, which renders the owner of those shares liability to the corporation for any calls on those shares up to the par value of the shares. No-par stocks have “no par value” printed on their certificates. The Corpus of Contemporary American English finds 370 uses of “on a par with” to 348 of “on par with”, or 322 to 272 if we exclude spoken news, sports magazines, and sports newspapers to reduce those using the term as golf jargon. Less strong a preference as found in ngrams, but still suggesting “on a par with” is the more common form.

Actually, I’m more familiar with people using “sub par” rather than “below par” to describe something as less than expected, etc. If we are to generalise and assume that most people would use an ascending scoring system of measurement such as percentages where 100% represents full marks, then below par would be considered a poor result. If we were talking about soccer, and par was the average number of goals that a team has scored in each of their games, then below par would be a poor result and above par would be a good result. From Old Norse par, from Middle Low German par, from Latin paria (“equals”), neuter plural of pār. Last night I was eating a cookie that wasn’t very good, happened to have the video camera running, and I used the idiom, let’s check it out. Connect and share knowledge within a single location that is structured and easy to search.

Try Readable for 7 days entirely free, or cancel any time if you don’t love it. Above the par doesn’t mean really good; it could mean “above the average”. Thus, when someone describes something (such as a hotel room or meal) as above par, they usually mean “more than what was strictly required, but not necessarily outstanding”.

where stock issuance prices must usually be published. The par value of stock remains unchanged in a bonus stock issue but it changes in a stock split. 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. They can be issued at a premium (price is higher than the par value) or at a discount (price is below the par value).

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Like for example, we’re on vacation, it’s been raining every day, and you say Rachel what’s the weather forecast for today? If, when a company issues a new bond, it receives the face value of the security, the bond is said to have been issued at par. 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. Using ‘per se’ is a great way to express that something is only in a certain state in a certain context. It can be a wonderful addition that simplifies a sentence – just use the pointers above to make sure you’re using it correctly.

1. Most jurisdictions do not allow a company to issue stock below par value.
2. 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.
3. Teenager Luke Littler made it through to the fourth round of the PDC World Darts Championship despite a below par performance against Ian White.
4. Thus, par value is the nominal value of a security which is determined by the issuing company to be its minimum price.

The paragraph is interesting isolated from the rest of the article but put into the context of the rest of the text, it’s simply irrelevant. It’s also incorrectly used as in ‘so to speak’ – a kind of long-form bunny quote. These misunderstandings are common in conversation, so you could be forgiven for using them. However, if you’re using it more formally, you will want to ensure you’re using it correctly. Per se is misused when it’s used in place of perfectly good words such as ‘necessarily’. For example, “He wasn’t angry, per se, he just wasn’t happy about it”.

In contrast, when someone describes something as below par, it very often means “that was so bad it didn’t even meet the minimum requirements”. Borrowed from German Paar, from Latin par (“equal, like”). Teenager Luke Littler made it through to the fourth round of the PDC World Darts Championship despite a below par performance against Ian White. My guess is, if the use of an article seems inappropriate, that’s because you’re confusing on a par with with above par or up to par. If you are writing for someone in the States, “on par with” is the best choice.

The word ‘necessarily’ would be more appropriate in this instance. However as discussed above golf uses an inverse scoring system where lower scores represent better performance, and therefore in this case below par is a good result. In finance and accounting, par value means stated value or face value of a financial instrument. Expressions derived from this term include at par (at the par value), over par (over par value) and under par (under par value). Mental and emotional health is on a par with physical health and financial security when it comes to negative impacts on overall well-being, researchers say. Stack Exchange network consists of 183 Q&A communities including Stack Overflow, the largest, most trusted online community for developers to learn, share their knowledge, and build their careers.