Traders quote risk in points, so point value is how a stop distance becomes a dollar figure. It is the same number as the contract-multiplier, but platforms often label it "big point value" in their symbol settings.
Getting it wrong is the most common sizing error in futures. A trader used to ES at $50 a point who switches to ym at $5 a point or cl at $1,000 a point will size by habit and be off by orders of magnitude.
Example: risking $300 on a 12-point ES stop means one contract ($50 x 12 = $600) is already double the budget; the right size is one MES ($5 x 12 = $60) or nothing.
Related: contract-multiplier, tick-value, tick-size, position-sizing, risk-per-trade