Treasury Investment Growth Receipt

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Treasury Investment Growth Receipt

A Treasury security whose coupons have been stripped by Merrill Lynch. TIGRs therefore pay no interest. They are sold at a significant discount from par and mature at par. TIGRs fluctuate in price, sometimes dramatically, because changes in interest rates have made them more or less desirable. TIGRs can be invested IRAs and other pension accounts; they are also exempt from state and local taxes. They were originally issued between 1982 and 1986, becoming more-or-less obsolete when the U.S. Treasury began issuing its own stripped bonds. They still exist, but are fairly uncommon investments. See also: zero-coupon bonds, STRIPS.

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References in periodicals archive ?
The program eliminates the need for the custodian bank and dedicated trust in the CATS or TIGRs framework.
But small, sustainable TIGR industries also emerging.
TIGR industries slowly emerging on Kauai include aquaculture (high-health shrimp producer CEATECH); diversified agriculture (sugar replacement crops ranging from A&B plantation-grown coffee to small-farm asparagus, papaya, exotic products like neem trees, Southeast Asian fruit rambutan -- how many Hawaii residents have ever heard of neem, know its potential as medicine, pest controller, fertilizer?