> ## Knowledge Base Index
> Fetch the complete knowledge base index at: https://biasinvestors.crisp.help/sitemap.xml
> Use this file to discover available pages before exploring further.
> Pure-Markdown content can be obtained by appending a '.md' suffix to the content URLs listed in the sitemap (without the trailing slash).

# Net Interest Cost (NIC)

The average weighted coupon rate for a new municipal issue. For a competitive issue the issuer may request that the syndicates submit their bids in the form of an NIC. The lowest NIC bid will be awarded the issue. See also: True Interest Cost.