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Circle

• Underwriters, actual or potential, often seek out and circle investor interest in a new issue before final pricing. The customer circled basically made a commitment to purchase the issue if it comes at an agreed-upon price. In the latter case, if the price is other than that stipulated, the customer supposedly has first offer at the actual price.

• Underwriters, actual or potential as the case may be, often seek out and "circle" retail interest in a new issue before final pricing. The customer circled has basically made a commitment to purchase the note or bond or to purchase it if it comes at an agreed upon price. In the latter case, if the price is other than that stipulated, the customer supposedly has first offer at the actual price.

 
 Embedded terms in definition
 Bond
Commitment
Interest
Investor
Issue
New issue
Note
Offer
Out
Purchase
Retail

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