In archaeology, a prismatic blade is a long, narrow, specialized lithic flake with parallel margins. Prismatic blades are removed from polyhedral blade cores through pressure reduction. This process results in a very standardized finished tool and waste assemblage. While the prismatic blade industry is most often associated with obsidian (especially in Pre-Columbian Mesoamerica), it is not limited to that material; chert, flint, and chalcedony blades are not uncommon.
Pretty much what they are saying is that a prismatic blade is a long, narrow and symmetrical blade. They are removed from blades that have many side through pressure flaking. This results in a good looking tool with little waste, or waste that can be reused for other purposes. Usually the prismatic blade is made with obsidian, but can be made, and are often made, of chert, flint and almost any knappable material availiable.