| Certificate of Government Receipts (COUGRs) |
 U.S. Treasury fixed-income securities stripped of their coupon payments, providing payment of face value. These are synthetic securities offered by the firm A.G. Becker Paribas.
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Part of the "feline" family of synthetic zero-coupon Treasury securities, which include CATS, COUGRs and TIGRs. This default-free family of products provide safety of principal and transparent profits. The product is sold at a discount and redeemed at face value as there are no interest payments during the life of the security.
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