Source : Webster's Revised Unabridged Dictionary (1913)

Par \Par\, n. [L. par, adj., equal. See {Peer} an equal.]
   1. Equal value; equality of nominal and actual value; the
      value expressed on the face or in the words of a
      certificate of value, as a bond or other commercial paper.

   2. Equality of condition or circumstances.

   {At par}, at the original price; neither at a discount nor at
      a premium.

   {Above par}, at a premium.

   {Below par}, at a discount.

   {On a par}, on a level; in the same condition, circumstances,
      position, rank, etc.; as, their pretensions are on a par;
      his ability is on a par with his ambition.

   {Par of exchange}. See under {Exchange}.

   {Par value}, nominal value; face value.

Source : WordNet®

par value
     n : the value of a security that is set by the company issuing
         it; unrelated to market value [syn: {face value}, {nominal
         value}]