Underwriter’s Discount
The difference between the amount an underwriter pays the issuer for the bonds at the closing (i.e., the purchase price) and the price at which the underwriter sells the bonds to the public (i.e., the issue price).
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Investor Letter
A letter from a purchaser of Bonds in a Private Placement typically acknowledging any transfer restrictions applicable to the Bonds and attesting to the purchaser’s eligibility to purchase the Bonds.
Get it in Writing
Learn more about the various documents involved in a municipal securities transaction.
