when-issued

When Issued

Referring to a conditional offer for a new security, subject to the security actually being issued. Before a new issue, underwriters canvass potential investors, who may or may not book an order to buy a portion the new issue. Orders made are said to be effective "when issued" because they may not be completed, especially if the offering is cancelled. Less formally, orders when issued are referred to as orders "with ice" or orders "when distributed."
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

when-issued

Used to refer to a security that has not yet been issued but that will be issued in the future. Trading in when-issued securities often occurs between the time a new security is announced (for example, the time when a stock is split) and the time the certificates are actually issued.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
References in periodicals archive ?
It is anticipated that when-issued trading on the Nasdaq Global Select Market in Cerence Inc.
The stocks will be eligible for "when issued" trading for a period commencing from November 13 to 16 in accordance with the guidelines on 'when-issued transactions in central government securities' issued by the central bank dated November 16, 2006 as amended from time to time.
Finally, the company mentioned that it expects the when-issued Garrett Motion common stock to start trading on the New York Stock Exchange on or about 17 September and on 1 October the regular-way trading under the symbol "GTX."
On October 16, 1992, an automatic yield-to-price conversion feature was implemented, eliminating the two-step pricing process for when-issued trades (25) and allowing when-issued trades to be netted and novated on the trade date.
common stock will begin trading on a "when-issued" basis under the symbol "BHFWV" on Monday, July 17, 2017.
BNED common stock is expected to begin trading on a 'when-issued' basis on the NYSE under the symbol 'BNED WI' beginning on 23 July 2015.
Talen Energy common stock is expected to begin trading on a "when-issued" basis on the NYSE under the symbol "TLN WI" beginning on May 18, 2015.
When-issued trading in the new Journal Media Group Inc.
Starting on Wednesday, December 3, 2014, there will be a when-issued market in KLX common stock under the ticker symbol "KLXIV." This when-issued market will continue until regular-way trading in KLX common stock begins under the ticker symbol "KLXI" on December 17, 2014, the first trading day after the distribution date.
As previously announced, the Series C common stock traded on a when-issued basis on the Nasdaq Global Select Market under the symbol "LMCKV" during the period commencing on July 8, 2014 and ending on July 23, 2014.
3, although some trading will begin on the "when-issued" market beginning Aug.