Treasury Investment Growth Receipts - TIGRs
Introduced by Merrill Lynch, TIGRs are stripped treasury securities offered at a significant discount to face value and backed by the U.S. Government.
Investopedia Commentary
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.
See also: CATS, COUGRs, Merrill Lynch, Strip, STRIPS
Also spelled: TIGRs