Types of receipt security strip bonds
Receipt security strip bonds were issued under many proprietary brand names, each with different features. The major types in Canada are shown below. NOTE: No new receipt security strip bonds have been created recently in Canada.
Some, such as TIGRs also were issued in the U.S. under similar arrangements, using U.S. Treasuries as the underlying securities.
| Brand name | Originator | Underlying bonds | Transfer agent | Exchange-able for the underlying physical strip bond |
|---|---|---|---|---|
| Sentinel | Group of 7 investment dealers | Government of Canada, some provincial bonds, some provincial hydro bonds | Originally Montreal Trust, now Computershare Trust Company | No |
| TIGR (Term Investment Growth Receipt) | Merrill Lynch Canada | Government of Canada | Originally Montreal Trust, now Computershare Trust Company | Yes |
| Cougar (Guaranty Trust or TD Trust) | Guaranty Trust Company | Government of Canada, some provincial bonds, some provincial hydro bonds | Originally Guaranty Trust, now TD Trust | Depends on the series; check the certificate |
| Cougar (Citibank or CIBC Mellon Trust) | Citibank | Government of Canada, some provincial bonds, some provincial hydro bonds | Originally Royal Trust, now CIBC Mellon Trust | Check the certificate |
| Quantum Deposit Receipts | Mutual Trust | Originally Mutual Trust, now Clarica Trust | No | |
| Eagle Deposit Receipts | Mutual Trust | Originally Mutual Trust, now Clarica Trust | No | |
| Deposit Receipts | Mutual Trust | Originally Mutual Trust, now Clarica Trust | No | |
| Nuggets | An Edmonton, Alberta financial institution | N.A. | N.A. | N.A. |
| Wellington Investment Notes | Wellington Trust | N.A. | Now Montreal Trust (part of ScotiaBank) | N.A. |
| Coupon and residual receipts (no brand name) | Various investment dealers | Corporate bonds | Most are transferred by Computershare Trust or CIBC Mellon Trust | No |
Contact information:
Computershare Trust Company of Canada (Toronto, Ontario, Canada) TEL: (416)263-9200
CIBC Mellon Trust Company (Toronto, Ontario, Canada) TEL: (416)643-5000
Clarica Trust (Waterloo, Ontario, Canada) TEL: (888)864-5463
NextCopyright Keith Campbell ©2002-2004. All rights reserved.