It is basically the price range for the IPO which is going to be initiated in the primary market. Its lower limit is called floor price and the upper limit is called CAP price. The difference between price range should not be more than 20%.
The issue price is the price at which shares are offered for sale when they first become available to the public. Shares in the company slipped below their issue price on their first day of trading. Investors earn the difference between the discount issue price and the full face value paid at maturity.
Example of issue price is when issuing bonds. Bonds are typically issued at par value. Typically bonds are issued at $1,000 or $5,000 increments.