when-issued security

Definition of "when-issued security"
  1. A type of security that is traded conditionally before it is officially issued
How to use "when-issued security" in a sentence
  1. The stockbroker cautioned that the when-issued security could fluctuate in price due to the conditional basis of its trading.
  2. The when-issued security was offered to potential investors before the company officially issued it.
  3. Before the bonds were officially issued, they were already traded as when-issued security.

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