(A) Cut-off price
In a book building issue, the actual discovered issue price — which can be within the price band or above the floor price — is called the Cut-off price. It is decided by the issuer and lead manager after considering the book and investors' appetite for the stock.
Source: Chapter 3, Section 3.1 — "What is Cut-Off Price?"
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The passage explicitly defines Cut-off price as the discovered issue price in a book building process, which can be any price within the price band or above the floor price. Students often confuse it with floor price (minimum bid price) or ceiling/cap price (maximum of the band). Remember: floor price = minimum; ceiling = maximum; cut-off = final determined price after book building.