Does the CUSIP on a bond change every change? A relative of mine, who lives in the US, has a trade confirmation showing that she bought a municipal bond. The bond was called recently and that trade confirmation shows a different CUSIP. I am wondering if the CUSIP changed or maybe she has the wrong trade confirmation.


  • Can you tell us what CUSIP/bond you are talking about? It might also be best to call the sender of the confirmation and ask them directly. – 0xFEE1DEAD Sep 11 '18 at 1:30

CUSIPs rarely change through the lifecycle of a security, but it can happen due to corporate actions.

Also, note that CUSIPs can get reassigned once an issue no longer exists.


I spoke to the broker about this issue and he says that the CUSIP changes when the bond is called and the bond was called.

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