I don't know what 'it exists' means exactly, nor what it means to say it is 'printed'. It is a number in the blockchain code. It can't be spent, it can't be converted, it isn't part of any user's account balance, etc. In fact, regardless of votes, it can't even be paid out to SPS proposals at a rate of more than 1% per day.
IMO it shouldn't even be included in 'supply' until placed into circulation, at which point it can be spend, can be converted, etc. but this is of little practical significance right now since the amount is very low (200K out of 7M), as is the rate of increase.
RE: How SBD peg actually works OR How the @sbdpotato conversions won't affect SBD price