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Before the takeover, those shares had been trading above par, and Goldman could have called them at par value.
FAVORABLE EXCHANGE -- If Americans could trade their dollars for British pounds at par value, it would be a good deal, since 1 pound costs about $1.86.
The NASD inquiry, which took place from July 2002 to June 2003, focused on 60 transactions worth $1.4 million at par value, and found that customers received prices that were below fair market value by 6.57percentto142.55percentcent.
They are battling in the courts, and now in the bond market, where lucky owners of one bond issued by a company that may yet go broke are being offered the chance to cash out at par value.
The British bank will acquire ING Direct U.K.'s mortgage book at a 3 percent discount, while the deposits will be acquired at par value, the firms said in separate statements.
The auction agent and the brokers, working together, may also step in to help investors buy and sell their stakes, which are not backed by a guarantee that a bank will be the buyer of last resort at par value if an auction fails to attract enough buyers.
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Both UBS and Citigroup will take charges tied to the repurchase of the securities because they will be forced to price them at their current market value and not at the par value being paid to repurchase them.
Many LBO debentures underwritten in 2006 and 2007 formerly trading at 50 cents on the dollar now tick at 80% par value.
For example, the bond may be issued at a par value of $1,000, but be called away at a par value of $1,050.
In theory, the consols could be redeemed by the government at their par value of £100.
Because of the high interest rate they paid, the bonds were sold at above par value, but the government only received par for them, leaving the company to pocket the difference.
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