DEFINITION of 'Treasury Investment Growth Receipts - TIGRs'

Stripped Treasury securities offered at a significant discount to face value and backed by the U.S. government. TIGRs were introduced by Merrill Lynch and were originally issued between 1982 and 1986. TIGR bonds were discontinued when the U.S. government began issuing public STRIPS in 1986.

BREAKING DOWN '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 or profit from interest rate volatility.

RELATED TERMS
  1. Treasury STRIPS

    An acronym for 'separate trading of registered interest and principal ...
  2. Strip

    1. For bonds, the process of removing coupons from a bond and ...
  3. Futures Strip

    The sale or purchase of futures in sequential delivery months ...
  4. Treasury Receipt

    A zero-coupon bond that doesn't pay interest at regular intervals ...
  5. Servicing Strip

    A security created by the stream of cash flows that result from ...
  6. Lehman Investment Opportunity Note ...

    A type of zero-coupon Treasury bond issued by the U.S. government ...
Related Articles
  1. Investing

    Introduction To STRIPS

    STRIPS provide an alternative form of bond for fixed-income investors who need definite cash flows at specific times. Read the article to find out how.
  2. Investing

    Government Bond ETFs to Date 2016 Performance Review (ZROZ, EDV)

    Find out how government bond exchange-traded funds (ETFs) are performing YTD in 2016, and which are the best and worst performers.
  3. Trading

    Strip Options: A Market Neutral Bearish Strategy

    Strip Options are market neutral trading strategies with profit potential on either side price movement, with a "bearish" skew.
  4. Investing

    3 Best High-Yielding Long Term Government Bond ETFs (EDV, ZROZ)

    Learn about three exchange-traded funds that invest in long-term U.S. government bonds and offer high distribution yields to investors.
  5. Investing

    Long-Term Treasury Bond ETFs Are Attracting Assets in 2016 (TLT, TLH)

    Discover five exchange-traded funds that invest in U.S. Treasury long-term bonds and experienced large year-to-date capital inflows as of March 4, 2016.
  6. Investing

    Understanding Treasury Yield

    Treasury yield refers to the return on an investment in a U.S. government debt obligation, such as a bill, note or bond.
  7. Investing

    Long Term Bond ETFs to Date 2016 Performance Review (VGLT, VCLT)

    Find out how long-term bond exchange-traded funds have been performing YTD in 2016, and how each fund is performing in the category.
  8. Investing

    Introduction to Treasury Securities

    Purchasing bonds that are backed by the full faith and credit of the U.S. government can provide steady guaranteed income and peace of mind. Knowing the characteristics of each type of treasury ...
  9. Investing

    Trump’s First Year: 2017 Equity Strategy (BAC)

    Equity strategists at Bank of America Merrill Lynch have identified key investment themes for 2017.
RELATED FAQS
  1. What is a stripped bond?

    The quick answer to this question is that a stripped bond is a bond that has had its main components broken up into a zero-coupon ... Read Answer >>
  2. What forms of debt security are available for the average investor?

    Discover the various different types of debt securities, issued by government entities or corporations, that are available ... Read Answer >>
  3. Which economic factors impact treasury yields?

    Discover the economic factors that impact Treasury yields. Treasury yields are the benchmark yield for the rest of the world, ... Read Answer >>
  4. How is the interest rate on a treasury bond determined?

    Explore the difference between interest rates and bond coupons, what determines current yield on debt instruments, and why ... Read Answer >>
Hot Definitions
  1. Maintenance Margin

    The minimum amount of equity that must be maintained in a margin account. In the context of the NYSE and FINRA, after an ...
  2. Salvage Value

    The estimated value that an asset will realize upon its sale at the end of its useful life. The value is used in accounting ...
  3. Cryptocurrency

    A digital or virtual currency that uses cryptography for security. A cryptocurrency is difficult to counterfeit because of ...
  4. Promissory Note

    A financial instrument that contains a written promise by one party to pay another party a definite sum of money either on ...
  5. SEC Form 13F

    A filing with the Securities and Exchange Commission (SEC), also known as the Information Required of Institutional Investment ...
  6. Fixed Asset

    A long-term tangible piece of property that a firm owns and uses in the production of its income and is not expected to be ...
Trading Center