DEFINITION of 'Story Paper'
A security or investment of any kind that has very unique or unusual features. Story papers require detailed explanations (stories) before they can be sold. An investment may fall into this category because it is not followed closely by securities analysts. Since less is known about these securities, they are often worth less than comparable seasoned securities.
BREAKING DOWN 'Story Paper'
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 that has many unique features and risks being sold to a private investor could be classified as a story paper.