strip npl: STRIPs
[s eparate t rading of r egistered i nterest and p rincipal of securities]
: a Treasury security that entitles the investor usually to payment of interest or principal exclusively and that is registered in a Federal Reserve bank under a federal program that provides for such separate trading of the components of U.S. Treasury obligations compare zero-coupon bond at bond
Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.