What document is used by broker-dealers to advertise bonds in the secondary market?

A Tombstone Advertisement is specifically designed to provide essential information about securities available for sale in the secondary market, including bonds. This type of advertisement includes details such as the type of bond, the amount being offered, the price, and other key characteristics important for potential investors.

The primary purpose of a Tombstone Advertisement is to alert investors to new opportunities while remaining compliant with regulatory requirements, as it presents the necessary information without promoting or guaranteeing the bond's value. This ensures investors have the critical data they need to make informed decisions while understanding market offerings.

In contrast, a Blue List is a directory of municipal bonds available for trading and is not primarily an advertising tool; an Official Statement provides detailed information about a specific bond issue and is used at the time of sale rather than for advertisement purposes; and a Notice of Sale is a document used to announce a bond offering but is not an advertisement directed at investors in the market. Thus, the Tombstone Advertisement is the correct choice for advertising bonds in the secondary market.