(C) Cut-off Price
In a book building issue, the actual discovered issue price — which can be any price in the price band or above the floor price — is called the Cut-off Price.
Source: Chapter 3, Section 3.1 – "What is Cut-Off Price?"
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The passage directly defines Cut-off Price as the discovered issue price in a book building process. Students often confuse it with Floor Price (minimum bid price) or Price Band (the range). Remember: Floor Price = minimum; Price Band = range; Cut-off Price = final discovered price after book building.