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The Collaborative International Dictionary
Below par

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.

  3. An amount which is taken as an average or mean. [Eng.]

  4. (Golf) The number of strokes required for a hole or a round played without mistake, two strokes being allowed on each hole for putting. Par represents perfect play, whereas bogey makes allowance on some holes for human frailty. Thus if par for a course is 75, bogey is usually put down, arbitrarily, as 81 or 82. If par for one hole is 5, a bogey is 6, and a score of 7 strokes would be a double bogey.

    At par, at the original price; neither at a discount nor at a premium; -- used especially of financial instruments, such as bonds.

    Above par, at a premium.

    Below par, (a) at a discount. (a) less than the expected or usual quality; -- of the quality of objects and of the performance of people; as, he performed below par in the game.

    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; -- used especially of financial instruments, such as bonds.

Wiktionary
below par

a. 1 (context golf English) (''of a score'') Less than par for the hole or course 2 (context idiomatic English) Not up to the average or normal standard 3 (context of a financial instrument English) Having a price below its face value

Usage examples of "below par".

True, he weighed hardly anything at all, but what with the lack of sleep and dinner I was a good way below par and, moreover, I'd had my bellyful of junkies.

Let us wherefore, tearing ages, presently preposterose a snatchvote of thanksalot to the huskiest coaxing experimenter that ever gave his best hand into chancerisk, wishing him with his famblings no end of slow poison and a mighty broad venue for themselves between the devil's punchbowl and the deep angleseaboard, that they may gratefully turn a deaf ear clooshed upon the desperanto of willynully, their shareholders from Taaffe to Auliffe, that will curse them below par and mar with their descendants, shame, humbug ant profit, to greenmould upon mildew over jaundice as long as ever there's wagtail surtaxed to a testcase on enver a man.

When the exchange is below par, it loses as a debtor, and gains as a creditor.

Now, it happens I had occasion to report to ComServPac recently that the engineer-ing performance of this ship was below par, and it's entirely possible that that's why our orders were changed.

Although he was able to keep the rate of interest below eight percent, the bankers were able to drive him to the wall in other ways, obliging him to sell certain government issues considerably below par.

In other words, the performance is always very much below par and on occasion a total disaster.

Somehow or other he's got the notion that I'm politically sort of below par.

The bonds were quoted, no longer at a hundred below par, but at twenty, at ten, and at five.