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 ?
This means that if a majority of the population would turn back from a stairway exit due to low visibility, that stairway is not accessible for evacuation.
I represented a waitress who fell in a hotel's stairway and had to have cervical surgery.
It was set up just inby the vent drift toward the stairway. Except for temporary shut down to construct a sand wall, the foam machine operated for 24 hours, cooling the fire.
Peter Anderson, an attorney for the band, repeated to jurors his argument that the riff that opens "Stairway to Heaven," a chromatic descending arpeggiated line that misses the 'E' note, was in the public domain and had been widely used.
Shaken by that experience, they put up Stairway in Puerto Galera, where they eventually got married and raised a family.
Stairway claimed that under the loss payee clause in the policy and the agreement between Stairway, the insured and insurer, it was entitled to receive payment from Ironshore despite any defense that Ironshore might have against Eidos.
Records said A.M had abused the fact that he was alone with the woman in the lift when he ordered her to accompany him to the stairway. He posed as a policeman when he showed her a walkie-talkie that reportedly had a Dubai Police badge on it.
"Stairway to Heaven" was aired in the Philippines in 2004 where it received one of the highest ratings.
He is believed to have dragged the Indian girl when she stepped off the bus into the stairway, where he kissed her on her cheek and touched her against her will.
Within the interval of the Lower Stairway Sandstone to the Middle Stairway Sandstone, fair to good oil shows were recorded in 25m of gross sand (23 m in the Lower Stairway Sandstone and 2 m in the Middle Stairway Sandstone).
SAN FRANCISCO See the city's 43 hills with Stairway Walks in San Francisco by Adah Bakalinsky or the San Francisco Stairways iPhone app ($1).