Treasury Investment Growth Receipts (TIGRs)
Introduced by Merrill Lynch, TIGRs are stripped Treasury securities offered at a significant discount to face value and backed by the U.S. government. Investopedia Says:
Created before the more popular Treasury STRIPS, this form of investment vehicle is progressively deteriorating. TIGRs are generally traded on secondary markets to individuals wishing to ensure future cash flows. Related Terms:
Certificate of Government Receipts - COUGRs
Certificates of Accrual on Treasury Securities - CATS
Merrill Lynch
Strip
Treasury STRIPS |