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Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.

Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive ?
there's no denying this Desert Eagle tiger stripe is a real head-turner.
The hottest part of the entire tiger stripe system was found to be part of the fracture called Damascus Sulcus.
A new map that combines heat data with visible-light images shows a 40-kilometer (25-mile) segment of the longest tiger stripe, known as Baghdad Sulcus.
"But some years, this disorder is very significant, such as in 2018 when tiger stripes did severe damage to the South Carolina peach crop.
In an Instagram post, she proudly showed off her 'tiger stripes' (stretch marks).
The new kit has stylised tiger stripes design element emblazoned on the sleeves, reverberating the Blue Tigers' predatory instincts which have seen them rise from 173 to 97 in the FIFA rankings in the last three years.
He joins Jack My Yum creator and another Drumcode favourite, Tiger Stripes with support from the residents.
Of the seven Bengal tigers, we have five with Bengal tiger stripes and two are white tigers.'
Customers challenged to 'Earn Your Tiger Stripes' as they participate in the analogue-to-digital transformation underway in textiles and apparel industry.
However, the region that now forms the south pole, with its famous "tiger stripes" could have once been near the moon's equator, according to data captured by Cassini.
Hiscock's investigation focused on orientation--e.g., why tiger stripes are perpendicular to its body while zebrafish stripes are horizontal.