OK I looked in Cougar, by the Numbers and it was not listed there.
The “Big Book Mercury Cougar” shows nothing about an option by that title. You could get the GT package, The Handling Package (Competition Suspension) was included with the GT package and the 351CJ and had higher rate springs, Heavy Duty shocks, Larger diameter front sway bar but only with the 351CJ got the rear sway bar. Of coarse this is just what the “Big Book Mercury Cougar” is stating. I know Don spent countless hours researching this, but may have some errors. If you are getting this from a owner/seller they may be thinking the same components used on the Cyclone for that package would give the Cougar the same package. I would defer to a Marti report for option package names.