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Tuesday 23 February, 2021

UK Debt Management Office

Issue of Debt

Issue of Debt

UK Debt Management Office

 

 

 

 

 

Eastcheap Court

11 Philpot Lane

London

EC3M 8UD

Tel 020 7862 6500

 

 

www.dmo.gov.uk

 

 

23 February 2021

PRESS NOTICE

AUCTION OF BRITISH GOVERNMENT STOCK

Auction Details

Auction Date

Tuesday, 2 March 2021

Issue and Settlement Date

Wednesday, 3 March 2021

Bidding Convention

Fully paid Bid Price (see Note 1)

Accrued Interest payable with bid

Nil

Auction Open

9:00am London Time

Auction Close

10:00am London Time

Post Auction Option Facility Open

12:30pm London Time

Post Auction Option Facility Close

1:00pm London Time

Details of Security

Title

0⅜% Treasury Gilt 2026

Amount (nominal) for auction

£3,000 million (see Note 3)

Nominal outstanding after auction

£3,000.0 million

Maturity Date

22 October 2026 at par

Interest Payment Dates

22 April and 22 October

ISIN Code

GB00BNNGP668

SEDOL Code

B-NNG-P66

Strippable

No (see Note 4)

Interest Payable

Gross (see Note 2)

Next Interest Payment Date

22 October 2021 - £0.239011 per £100 nominal
(Long First Coupon)

“When Issued” Trading

under London Stock Exchange Rule 1530

Commences

3:30pm London Time: 23 February 2021

Closes

Close of business: 2 March 2021

“When issued” ISIN Code

GB00BNNGP668

“When issued” SEDOL Code

B-NNG-P66

TIDM (for trade reporting)

AUC

Note 1: Bids may be made on either a competitive or a non‑competitive basis. Details of the bidding procedures are set out in the prospectus and in the Information Memorandum. Gilt‑edged Market Makers may bid by means of the Bloomberg Bond Auction System to the DMO not earlier than 9.00 am on Tuesday, 2 March 2021 and not later than 10.00 am on Tuesday, 2 March 2021.

Note 2: Holders may elect to have United Kingdom income tax deducted from interest payments, should they so wish, on application to the Registrar, Computershare Investor Services PLC.

Note 3: Subject to the provisions of the Information Memorandum, this auction will be eligible for the Post Auction Option Facility of an additional amount of the Gilt equivalent to 25% of the nominal amount of the Gilt allocated at the auction. Details of the Post Auction Option Facility procedures are set out in the Information Memorandum as supplemented by the prospectus.

Note 4: The Gilt may not be stripped and reconstituted until so specified in a notice issued by the DMO.

Documentation

Prospectus for auction of £3,000 million of 0⅜% Treasury Gilt 2026

 

DMO : 23 February 2021

Available on the DMO’s Gilt Market Publications webpage at:

https://www.dmo.gov.uk/publications/

Information Memorandum relating to the Issue, Stripping and Reconstitution of British Government Stock

DMO : 30 December 2020

https://www.dmo.gov.uk/media/17188/infmemadd301220.pdf

Formulae for Calculating Gilt Prices from Yields

DMO : 16 March 2005

http://www.dmo.gov.uk/media/1955/yldeqns.pdf

Applications from Members of the Approved Group of Investors

For this auction applications may not be made by members of the Approved Group.


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