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Certificates of Accrual on Treasury Securities - CATS
What does it mean?
Issued by the U.S. Treasury and stripped by a financial intermediary, these products are sold at a significant discount from face value and pay no interest during their lifetime. However, they return full face value and cannot be called away.
In Other Words...
Secure investments backed by the U.S. Government, CATS are part of the feline family of U.S. Treasury zero-coupon offerings (CATS, COUGRs and TIGRs).
Related Links
Money Market Tutorial - If your investments in the stock market are keeping you from sleeping at night, it's time to learn about the safer alternatives in the money market.
Related Terms
COUGRs | TIGRs | Treasury Strips | Zero-Coupon Bond
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