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Financial Terms | |
Issue |
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Definition of IssueIssueA particular financial asset. IssueWhen an item is approved and released for sale, or when a policy or sales contract is accepted.
Related Terms:Bellwether issuesRelated:Benchmark issues. Benchmark issuesAlso called on-the-run or current coupon issues or bellwether issues. In the secondary Cheapest to deliver issueThe acceptable Treasury security with the highest implied repo rate; the rate that a Current-coupon issuesRelated: Benchmark issues Current issueIn Treasury securities, the most recently auctioned issue. Trading is more active in current Dual-currency issuesEurobonds that pay coupon interest in one currency but pay the principal in a different ![]() Emerging Issues Task Force (EITF)A special committee of the Financial Accounting Standards Board established to reach consensus of how to account for new and unusual financial transactions that have the potential for creating differing financial reporting practices. Emerging Issues Task Force (EITF)A separate committee within the Financial Accounting Standards Board composed of 13 members representing CPA firms and preparers of financial statements Euroequity issuesSecurities sold in the Euromarket. That is, securities initially sold to investors Inventory issueA transaction used to record the reduction in inventory from a location, Issue AgeAge of an insured as at the policy issue date, using "age nearest" next birthday formula. Issue dateThe date a security is first offered for sale. That date usually Issue DateDate on which a policy is approved. Issued share capitalTotal amount of shares that are in issue. Related: outstanding shares. Issued sharesThe number of shares that the company has sold to the public. ![]() issued sharesShares that have been issued by the company. IssuerAn entity that issues a financial asset. Multiple-issuer poolsUnder the GNMA-II program, pools formed through the aggregation of individual New-issues marketThe market in which a new issue of securities is first sold to investors. Original issue discount debt (OID debt)Debt that is initially offered at a price below par. Oversubscribed issueInvestors are not able to buy all of the shares or bonds they want, so underwriters must Presold issue An issuethat is sold out before the coupon announcement. Reopen an issueThe Treasury, when it wants to sell additional securities, will occasionally sell more of an rights issueissue of securities offered only to current stockholders. Seasoned issueissue of a security for which there is an existing market. Related: Unseasoned issue. Seasoned new issueA new issue of stock after the company's securities have previously been issued. A Secondary issue1) Procedure for selling blocks of seasoned issues of stocks. Small issues exemptionSecurities issues that involve less than $1.5 million are not required to file a Specific issues marketThe market in which dealers reverse in securities they wish to short. Unissued stockStock that has been authorized for use, but which has not yet been Unseasoned issueissue of a security for which there is no existing market. See: seasoned issue. Vanilla issueA security issue that has no unusual features. additional paid-in capitalDifference between issue price and par value of stock. Also called capital surplus. Adjustable rate preferred stock (ARPS)Publicly traded issues that may be collateralized by mortgages and MBSs. Agency basisA means of compensating the broker of a program trade solely on the basis of commission All-or-none underwritingAn arrangement whereby a security issue is canceled if the underwriter is unable American Depositary Receipts (ADRs)Certificates issued by a U.S. depositary bank, representing foreign American sharesSecurities certificates issued in the U.S. by a transfer agent acting on behalf of the foreign Annual reportA report issued to a company’s shareholders, creditors, and regulatory ApplicationA signed statement of facts made by a person applying for life insurance and then used by the insurance company to decide whether or not to issue a policy. The application becomes part of the insurance contract when the policy is issued. Arms indexAlso known as a trading index (TRIN)= (number of advancing issues)/ (number of declining authorized share capitalMaximum number of shares that the company is permitted to issue, as specified in the firm’s articles of incorporation. Back To Back AnnuityThis term refers to the simultaneous issue of a life annuity with a non-guaranteed period and a guaranteed life insurance policy [usually whole life or term to 100]. The face value of the life insurance would be the same amount that was used to purchase the annuity. This combination of life annuity providing the highest payout of all types of annuities, along with a guaranteed life insurance policy allowed an uninsurable person to convert his/her RRSP into the best choice of annuity and guarantee that upon his/her death, the full value of the annuity would be paid tax free through the life insurance policy to his family members. However, in the early 1990's, the Federal tax authorities put a stop to the issuing of standard life rates to rated or uninsurable applicants. Insuring a life annuity in this manner is still an excellent way to provide guaranteed tax free funds to family members but the application for the annuity and the application for the life insurance are separate transactions and today, most likely conducted through two different insurance companies so that there is no suspicion of preferential treatment given to the life insurance application. BackdatingA procedure for making the effective date of a policy earlier than the application date. Backdating is often used to make the age of the consumer at policy issue lower than it actually was in order to get a lower premium. BAN (Bank anticipation notes)Notes issued by states and municipalities to obtain interim financing for bank draftA guaranteed form of payment which is issued in amounts over $5,000. basic earnings per share (EPS)This important ratio equals the net Bearer bondBonds that are not registered on the books of the issuer. Such bonds are held in physical form by Benchmark interest rateAlso called the base interest rate, it is the minimum interest rate investors will Best-efforts saleA method of securities distribution/ underwriting in which the securities firm agrees to sell Blue-sky lawsState laws covering the issue and trading of securities. BondBonds are debt and are issued for a period of more than one year. The U.S. government, local BondA long-term debt instrument in which the issuer (borrower) is bondSecurity that obligates the issuer to make specified payments BondUsually a fixed interest security under which the issuer contracts to pay the lender a fixed principal amount at a stated date in the future, and a series of interest payments, either semi-annually or annually. Interest payments may vary through the life of bond. bondA debt security issued by a government or company. You receive regular interest payments at specified rates while you hold the bond and you receive the face value when it matures. Short-term bonds mature in less than five years; medium-term bonds mature in six to ten years; and long-term bonds mature in eleven years or greater. BondFixed interest security issued by a corporation or government, having a specific maturity date. Bond indentureThe contract that sets forth the promises of a corporate bond issuer and the rights of Book runnerThe managing underwriter for a new issue. The book runner maintains the book of securities sold. Bought dealSecurity issue where one or two underwriters buy the entire issue. BracketA term signifying the extent an underwriter's commitment in a new issue, e.g., major bracket or Brady bondsBonds issued by emerging countries under a debt reduction plan. Bull-bear bondBond whose principal repayment is linked to the price of another security. The bonds are Bulldog bondForeign bond issue made in London. Business riskThe risk that the cash flow of an issuer will be impaired because of adverse economic CalendarList of new issues scheduled to come to market shortly. Call a. An option to buy a certain quantity of a stock or commodity for a Call dateA date before maturity, specified at issuance, when the issuer of a bond may retire part of the bond Call priceThe price, specified at issuance, at which the issuer of a bond may retire part of the bond at a Call provisionAn embedded option granting a bond issuer the right to buy back all or part of the issue prior CallableA financial security such as a bond with a call option attached to it, i.e., the issuer has the right to Callable bondA bond that allows the issuer to buy back the bond at a callable bondBond that may be repurchased by the issuer before maturity at specified call price. Canada Savings BondsA bond issued each year by the federal government. These bonds can be cashed in at any time for their full face value. capital stockOwnership shares issued by a business corporation. A business capital structure, or capitalizationTerms that refer to the combination of CapitalizationThe total amount of debt and equity issued by a company. Cash offerA public equity issue that is sold to all interested investors. Certificate of deposit (CD)Also called a time deposit, this is a certificate issued by a bank or thrift that CircleUnderwriters, actual or potential, often seek out and "circle" investor interest in a new issue before Closed-end mortgageMortgage against which no additional debt may be issued. Collateral trust bondsA bond in which the issuer (often a holding company) grants investors a lien on ComangerA bank that ranks just below a lead manager in a syndicated Eurocredit or international bond Commercial paperShort-term unsecured promissory notes issued by a corporation. The maturity of commercial paperShort-term unsecured notes issued by firms. Common stock equivalentA convertible security that is traded like an equity issue because the optioned Competitive biddingA securities offering process in which securities firms submit competing bids to the Confirmationhe written statement that follows any "trade" in the securities markets. Confirmation is issued ConsolA type of bond that has an infinite life but is not issued in the U.S. capital markets. Conversion factorsRules set by the Chicago Board of Trade for determining the invoice price of each Conversion premiumThe percentage by which the conversion price in a convertible security exceeds the Convertible exchangeable preferred stockConvertible preferred stock that may be exchanged, at the Corporate bondsDebt obligations issued by corporations. Cost Accounting Standards Board (CASB)a body established by Congress in 1970 to promulgate cost accounting Coupon / CouponsThe periodic interest payment(s) made by the issuer of a bond Coupon rateThe nominal interest rate that the issuer promises to pay the CovenantsProvisions in a bond indenture or preferred stock agreement that require the bond or preferred Credit analysisThe process of analyzing information on companies and bond issues in order to estimate the Related to : financial, finance, business, accounting, payroll, inventory, investment, money, inventory control, stock trading, financial advisor, tax advisor, credit. |