Lowest point in final (5)
I believe the answer is:
least
'lowest' is the definition.
(synonyms)
'point in final' is the wordplay.
'point' becomes 'E' (compass point).
'in' is an insertion indicator.
'final' becomes 'last' (synonyms).
'e' going inside 'last' is 'LEAST'.
(Other definitions for least that I've seen before include "Being lowest in importance - gone stale" , "Of minimal significance" , "Most insignificant" , "Smallest, slightest" , "Minimum" .)