Treasury Investment Growth Receipts (TIGRs)

Definition

A bond issue backed by the U.S. Treasury Department that was issued in the early to mid-1980s. The interest rate or "coupon" was separated from the face value and sold separately on secondary markets. TIGRs were no longer issued after 1986 because the Treasury issued a more popular security called a Separate Trading of Registered Interest and Principal of Securities (STRIPS) bond.
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treasury investment growth receipt (TIGR) treasury investment growth receipt (TIGR)