A government bond issued in face value denominations from $50 to $10,000, with local and state tax-free interest and semiannually adjusted interest rates.
Bonds Enabling Annual Retirement Savings (BEARS)
Bonds Enabling Annual Retirement Savings (BEARS) Holders of BEARS receive the face value
of bonds underlying call option, which are exercised by CUBS (an acronym for Calls Underwritten by Swanbrook). If the calls are exercised by CUBS, BEARS holders receive the total of the exercise price.