Features of T-bond Futures and T-note Futures
Treasury bond futures and Treasury note futures traded on the CBOT have the following standard features:
T-bonds deliverable grade
- US Treasury bonds with maturity (or call date) atleast 15 years from delivery date, with an 8% coupon
- Other T-bonds delivered are converted to the equivalent of the above
T-notes deliverable grade
US Treasury notes with a maturity of between 6-1/2 to 10 years from delivery date, with an 8% coupon.
Again, an equivalent amount of other T-notes may be delivered.
Other specifications
Other contract specifications which are the same for T-bond and T-note futures are:
Size: Size is $100,000 face value.
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