Story Paper

A story paper is slang term for a security or investment of any kind that has exceptionally unique or unusual features. Story papers require detailed explanations (stories) to help with their sale.

Because they contain less common and well-known features, issuers or sellers of story paper securities must drum up interest in the securities by presenting them to potential buyers with more details and information than may be required by buyers of more popular securities.

An investment may fall into the category of a story paper because it is not followed closely by securities analysts. Since less is known about these securities, they are often not valued as highly as comparable, more well-followed securities. Story papers may also lack credit ratings or have other features that must be explained to investors in a way that more conventional securities do not require. For example, a small oil and gas lease for property in a remote region may have unique features and risks, and it could be referred to as story paper.