presold issue

presold issue definition - finance
A new security issue that has been completely sold before all of the details, such as pricing, have been announced. Often this occurs with government or municipal bond issues. The same phenomenon doesnÂ’t happen with corporate bonds, which must be registered with the Securities and Exchange Commission (SEC) before they can be offered for sale.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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