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TeachMeFinance.com - explain when issued when issued -- short for "when, as, and if issued." The term indicates a conditional sale of a security; the security has been authorized but not yet issued and paid for. All when-issued transactions are on a conditional basis until the security is delivered to the buyer and payment is delivered to the issuer. Federal Home Loan Bank System bonds are sold on a when-issued basis. historic definition... When issued -- A term employed when dealing in a stock not yet issued. When a stock is sold w. i. it is deliverable when, as and if issued. This is a stock future corresponding to a grain, cotton or coffee future, except that it is indefinite as to time. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.