Put on HOLD for offer AFTER SA stint??

My story comes after my S&T stint at a BB in NYC. S&T is a bit different from IB, since you rotate between desks. This was not made clear to us until the end, but if you aren't #1 choice at any desk, but still a good candidate, they'll put you "on hold", give offers to some and cut others, and see which of the offer holders declines. If people shop their offers and decline, the "waitlist" will get an opportunity for the offer. In my case, 35% of the class was cut, myself and 2 others were "waitlisted", and they gave offers to the rest in a class of 28.

My experience in some of the structuring/syndication roles has shown me I'd much rather be doing IB, so I'm doing FT recruiting now. When I'm reaching out to different banks, what should I say about the status of my offer? I don't want to lie and say I have an offer, but I don't not have an offer either - I'm literally on hold for the next 2 weeks. Can I say "deferred" or "waitlisted"? S&T is different than IB in this sense, so I'm not sure if they will understand unless I explain, but I'd rather do the explaining at my first round interview rather than the cold email.