STAIRS


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STAIRS

A convertible municipal bond. STAIRS are zero-coupon bonds that may be converted into interest-bearing bonds. Zero-coupon bonds are sold at a discount, and, because they do not pay interest, they are more volatile in the secondary market. A bondholder may thus wish to convert STAIRS to interest-bearing bonds in order to lock in a certain return. On the other hand, more risk tolerant bondholders may wish to hold the bond in the belief that a fluctuation in interest rates will make the bond more valuable. Like all municipal bonds, STAIRS are exempt from federal taxes. They are also called municipal convertibles.
References in classic literature ?
She then shut the bedroom door, and all the other doors, and going down stairs and emerging from the Albany into the busy streets, took omnibus for Saint Mary Axe: pressing on the road all the gaily-dressed ladies whom she could see from the window, and making them unconscious lay-figures for dolls, while she mentally cut them out and basted them.
Her eldest child, now descending the stairs by her side, was the mirror in which she could look back and see again the reflection of her own youth.
The mother and daughter slowly descended the stairs together -- the first dressed in dark brown, with an Indian shawl thrown over her shoulders; the second more simply attired in black, with a plain collar and cuffs, and a dark orange-colored ribbon over the bosom of her dress.
When the minute hand had recorded the lapse of five minutes more a door banged in the bedroom regions -a clear young voice was heard singing blithely -- light, rapid footsteps pattered on the upper stairs, descended with a jump to the landing, and pattered again, faster than ever, down the lower flight.
They ran from room to room unnecessarily, and lost time and patience in jostling each other on the stairs.
Try climbing the stairs in a variety of ways to build strength in several ranges of motion.
The landscape also presents situations where a slope needs to be navigated with stairs even though no wall is planned.
Sources said that passengers were being loaded at aircraft through stairs because the lift was out of order.
We live in a house, not a bungalow which helps, but when we're out and about, we always use stairs rather than lifts, on the basis that stairs don't break down and you can't get stuck between floors on a flight of stairs.
We look forward to increasing output to meet demand of our metal fabrication services because that's what customers want," says Howard Wurgler, President of Midwest Stairs & Iron.
While enclosed stair towers' design and construction varies, common are masonry enclosures with either steel or concrete staircases, or wood-frame or steel enclosures with multiple layers of "Type-X" gypsum board and steel or wooden stairs.
For 10 non-consecutive days, a team led by SDSU public health researchers Yael BenPorat, Brent Bishop and Melbourne Hovell posted one of five signs at the bottom of a set of stairs and escalators ascending to a sky bridge into San Diego International Airport's Terminal 1.