Key Program Features: Reference Notes® Securities

Initial issues	For maturities of 2 - 10 years. $3 billion minimum.
Reopenings	For maturities of 2 - 10 years. No minimum size.
Maturities	2-, 3-, 5-, 10- year maturities. Longer dated maturities according to market conditions with advance notice.
Ratings	Aaa/AAA
Dealer group	Global syndication using more than 40 top investment banks worldwide
Clearing and settlement	Fedwire, Euroclear and Clearstream
Minimum denominations	$2,000 or greater, in increments of $1,000
Redemption	At par on maturity date. No prepayments
Day count convention	30/360
Interest payment frequency	Semiannually
Documentation	Global debt facility
Governing law	New York