Zero coupon Treasury securities, with the coupon stripped. A wide variety of stripped Treasury certificates with animal names has been issued, including TIGRs (the first), ZEBRAs, COUGRs (Certificates of Government Receipts) and LIONs (Lehman Investment Opportunity Notes). DOGs, GATORs, RATs and EAGLEs are also found. The U.S. Treasury mundanely called its own stripped Treasury securities, Separate Trading of Registered Interest and Principal Securities (STRIPS). Note that the French Treasury issued an equivalent bond, wittily called Fonds d'Etat Libres d'Intgrt Nominal.