Prospectus

The Jolly Contrarian’s Glossary The snippy guide to financial services lingo.™ →Go uptown Index — Click the ᐅ to expand: Glossary Tell me more Sign up for our newsletter — or just get in touch: for ½ a weekly 🍺 you get to consult JC. Ask about it here.

A long document describing a deal which no-one reads, but which lead managers are nonetheless convinced presents them with risk of huge liability. Much of it accordingly comprises disclaimers.

Also called an “information memorandum” or an “offering circular”. A draft version — sometimes released for pre-marketing purposes — is called a “red herring”, on account of some red text written vertically down the margin.