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 periodicals archive ?
Judge Gary Klausner said the evidence presented so far represented a circumstantial case that Led Zeppelin may have heard Taurus performed before Stairway To Heaven was created.
Stairway is only entitled to payment of any loss it may be due from Ironshore.
We know that regular stair use increases physical activity and active stairways are one of many ways we are creating a healthy environment," said Deputy Mayor Gibbs.
Members of the coalition's physical activity workgroup wanted to build on their efforts to increase physical activity at worksites, so they turned to the Centers for Disease Control Community Guide as a resource for specific strategies for stairway campaigns.
For Dan, it all started when he became intrigued by a stairway near his apartment in Silver Lake.
An ill-conceived cultural preservation initiative has ended up damaging that which it intended to protect--the stone stairways of Persepolis.
Before I head up to Grand View Park, Bakalinsky escorts me to one of the citys most famous stairways, a mosaic-tiled beauty on Moraga Street featured on the cover of Stairway Walks in San Francisco, which will see its seventh edition in November.
Led Zeppelin's Stairway To Heaven, first released in 1971, was one of three Led Zep tracks that made the top 10 in a poll by digital station Absolute Classic Rock.
Next to the main altar in the nave is a stairway leading down to the two side altars and a small crypt-style room.
Following a preface (vii), this volume includes the following introductory material: Antonio Buero-Vallejo: His Life and Times (1-16), commentary on Story of a Stairway (17-19), commentary on Before Dawn (20-21), commentary on The Basement Window (22-26), and commentary on Mission to the Deserted Village" (27-32).
It was great to be able to design the properties from start to finish and put in features which I particularly like such as the open stairway which means you can see the top floor of the house from the bottom.
His room was on the second floor of this converted century-old residence, and a rickety stairway led directly from his crib down to a garbage-littered lot.