One U.S. Treasury note having face value at maturity of $200,000

U.S. Treasury notes with original term to maturity of not more than 5 years and 3 months, and remaining term to maturity of not less than 1 years and 9 months as of the first day of the delivery month, and remaining term to maturity of not more than 2 years from the last day of the delivery month. The invoice price equals the futures settlement price times a conversion factor, plus accrued interest. The conversion factor is the price of the delivered bond ($1 par value) to yield 6 percent.

Outright and Spread:
The minimum price fluctuation shall be one quarter of one thirty-second (1/32) of one point ($15.625 rounded up to the nearest cent per contract). Par shall be on the basis of 100 points.

Points ($2,000) and quarters of 1/32 of a point. For example, 101-16 represents 101 16/32, 101-162 represents 101 16.25/32, 101-16+ represents 101 16.5/32 and 101-167 represents 101 16.75/32.

Mar, Jun, Sep, Dec

Third business day following the last trading day.

Federal Reserve book-entry wire transfer system.

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