An underwritten issue is the distribution of securities in a process in which the investment banker promises only to make its best sales effort.

Name: An underwritten issue is the distribution of securities in a process in which the investment banker promises only to make its best sales effort.
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An underwritten issue involves an investment banker guaranteeing the sale of the securities by purchasing them from the issuer and reselling them to the public, not just making a best-effort attempt.

An Underwritten Issue Is the Distribution of Securities in a Process