STRIPS Securities for Lottery Jackpot Annuities

The purpose of this Request for Qualification is for the Massachusetts State Lottery Commission to enter into purchase agreements with a pool of qualified firms to provide Zero Coupon Non-Callable U.S. Government Securities commonly referred to as STRIPS (Separate Trading of Registered Interest and Principal of Securities). These STRIPS will fund jackpot prizes paid by the MSLC as an annuity. In Fiscal Year 2024, there were five security purchases, all of which were "Instant Ticket" prizes for one million dollars or more (annual installments of fifty thousand dollars or more). The current investment policy of the MSLC calls for the purchase of STRIPS, but each qualified firm must demonstrate that it has the capability to offer other investments should the MSLC change its investment policy. Any MSLC investment purchase, whether they are STRIPS, Bonds, or Notes will be done by a competitive offering process.