1. The last
prospectus distributed prior to a
new issue of a
security. The final prospectus contains similar information to a
preliminary prospectus, but is updated, and, importantly, contains the security's
price.
2. The most recent prospectus distributed by a
mutual fund. Mutual funds update their prospecti from time to time as the types of securities represented in the fund, or perhaps its
investment philosophy, change. The final prospectus is issued annually.