Treasury Investment Growth Receipts - TIGRs

What Does Treasury Investment Growth Receipts - TIGRs Mean?
Introduced by Merrill Lynch, TIGRs are stripped Treasury securities offered at a significant discount to face value and backed by the U.S. government. TIGRs were originally issued between 1982 and 1986. They became obsolete when the U.S. government began issuing public STRIPS in 1986.

Investopedia explains Treasury Investment Growth Receipts - TIGRs
TIGRs are one of a small class of bonds known as "feline" securities, due to their catlike acronyms. Created before the more popular Treasury STRIPS, this form of investment vehicle is progressively deteriorating. TIGRs are generally traded on secondary markets to individuals wishing to ensure future cash flows.