Is 'issue par' one word or two?

It is a phrase consisting of the verb 'issue' and the noun 'par', linked by the preposition 'at' in standard usage: 'to issue AT par'.

Can 'issue par' be used for things other than finance?

Its core and almost exclusive use is in finance and economics. Metaphorical use (e.g., 'issuing advice at par') is extremely rare and not standard.

What's the opposite of 'issue at par'?

The direct opposites are 'issue at a premium' (above the face value) and 'issue at a discount' (below the face value).

Why would a bond be issued at par?

It is often done when the bond's interest (coupon) rate is exactly equal to the prevailing market interest rate for similar risk investments, making the bond's price equal to its face value.

issue par

C1/C2 (Low frequency, specialized term)

UK/ˈɪʃ.uː pɑː/US/ˈɪʃ.uː pɑːr/

Formal, Technical (Finance/Business)

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Definition

Meaning

To release a financial security (e.g., a bond, share) for sale at its nominal or face value.

In a broader business/financial context, it can imply setting a standard at a baseline level of value or expectation, where no premium or discount is applied.

Linguistics

Semantic Notes

"Par" refers to the stated, nominal value of a security, not its market price. 'Issue at par' means the initial selling price equals this nominal value. Contrast with 'issue at a premium' (above par) or 'issue at a discount' (below par).

Dialectal Variation

British vs American Usage

Differences

The term is identical in form and core meaning. Minor spelling conventions (e.g., 'nominal value' vs. 'par value') are equally used in both varieties.

Connotations

Neutral technical term in both. No significant connotative difference.

Frequency

Equally low-frequency and specialised in both UK and US financial English.

Vocabulary

Collocations

strong

bondsharesecuritystockdebentureto issue at

medium

valuepricenew loangovernment bondwas issued at

weak

companyofferinginitiallyoriginallyfinancing

Grammar

Valency Patterns

[Company/Government] + issue + [security] + at parThe + [security] + was issued + at par

Vocabulary

Synonyms

Strong

float at par

Neutral

issue at face valueissue at nominal value

Weak

offer at standard price (context-specific)

Vocabulary

Antonyms

issue at a premiumissue at a discount

Phrases

Idioms & Phrases

“[not idiomatic for this phrase]”

Usage

Context Usage

Business

The corporate bond was issued par to attract risk-averse investors.

Academic

Historical analysis shows that war bonds were frequently issued at par to encourage public subscription.

Everyday

Rarely used. Might be paraphrased as 'sold for its exact listed price'.

Technical

The yield to maturity for a bond issued par and held to maturity equals its coupon rate.

Examples

By Part of Speech

verb

British English

The treasury plans to issue the gilts at par.
They issued the new shares at par to existing shareholders.

American English

The corporation will issue the bonds at par.
The municipal debt was issued at par last quarter.

adverb

British English

[Rare to none. The concept is expressed prepositionally: 'at par'.]

American English

[Rare to none. The concept is expressed prepositionally: 'at par'.]

adjective

British English

The par-issue bonds were quickly subscribed.
A par-issue price is often a strategic decision.

American English

The par-issue security offered a stable yield.
They opted for a par-issue model for simplicity.

Examples

By CEFR Level

[Not applicable for A2 level.]

The company did not issue the new shares at par; they were more expensive.
A bond issued at par has a price of 100% of its face value.

Unlike the previous offering, which was at a discount, the latest government bonds were issued par.
Investors were reassured because the debentures were issued at par, indicating strong creditworthiness.

The decision to issue the convertible bond at par, despite favourable market conditions, was a conservative move designed to guarantee full subscription from institutional investors.
In a low-interest-rate environment, sovereigns can frequently issue long-term debt at par or even at a premium.

Learning

Memory Aids

Mnemonic

Think of PAR in golf – it's the standard score for a hole. To ISSUE something AT PAR means to sell it at its standard, baseline price.

Conceptual Metaphor

VALUE IS A POSITION ON A SCALE (with par as the central, zero point).

Watch out

Common Pitfalls

Translation Traps (for Russian speakers)

Avoid translating 'par' as 'пар' (steam/pair). The correct financial term is 'номинальная стоимость' or 'паритет'. 'Issue par' is 'выпускать по номиналу'.

Common Mistakes

Using 'issue par' as a noun phrase (e.g., 'the issue par was...'). It's a verb phrase: 'to issue AT par'.
Confusing 'par' with 'per'.
Assuming 'par' means 'good' as in 'par for the course' in this context.

Practice

Quiz

Fill in the gap

The city council voted to to ensure the project was fully funded without complex pricing.

Multiple Choice

What does it mean if a company issues a bond 'at par'?

FAQ

Frequently Asked Questions

: It is a phrase consisting of the verb 'issue' and the noun 'par', linked by the preposition 'at' in standard usage: 'to issue AT par'.
: Its core and almost exclusive use is in finance and economics. Metaphorical use (e.g., 'issuing advice at par') is extremely rare and not standard.
: The direct opposites are 'issue at a premium' (above the face value) and 'issue at a discount' (below the face value).
: It is often done when the bond's interest (coupon) rate is exactly equal to the prevailing market interest rate for similar risk investments, making the bond's price equal to its face value.