Par Value
The nominal face value assigned to a share of stock or a bond as stated in the corporate charter or bond indenture.
What is Par Value?
Par value is the nominal or face value of a security as designated in the issuing document. For common stock, par value is largely a legal concept — typically set very low ($0.001 or $0.01 per share) — representing the minimum price at which shares can be issued and providing a floor below which dividends cannot impair stated capital under some state laws. For bonds, par value (also called face value) is the amount repaid at maturity, usually $1,000, and serves as the basis for calculating coupon payments. The difference between the actual issuance price and par value is recorded as additional paid-in capital. Most investors focus on market price rather than par value, which has minimal practical significance for stockholders.
Example
Apple's common stock has a par value of $0.00001 per share. With about 15 billion shares outstanding, Apple's total stated capital from par value is approximately $150,000 — a trivially small amount compared to its $3 trillion market capitalization.
Source: Investopedia — Par Value