DEFINITION of 'Certificate Of Government Receipts - COUGRs'
U.S. Treasury fixed-income securities that are stripped of their coupon payments and provide payment of face value. These are synthetic securities offered by the A.G. Becker Paribas firm.
BREAKING DOWN 'Certificate Of Government Receipts - COUGRs'
COUGRs are part of the "feline" family of synthetic zero-coupon Treasury securities, which includes CATS and TIGRs. This default-free family of products provides safety of principal and transparent profits. COUGRs sold at a discount and redeemed at face value because there are no interest payments during the life of the security.