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Tuesday 14 January, 2020

UKDMO

Issue of Debt

Issue of Debt

UK Debt Management Office

 

 

 

 

Eastcheap Court

11 Philpot Lane

London

EC3M 8UD

Tel 020 7862 6500

Fax 020 7862 6509

 

www.dmo.gov.uk

 

 

14 January 2020

PRESS NOTICE

AUCTION OF BRITISH GOVERNMENT STOCK

Auction Details

Auction Date

Tuesday, 21 January 2020

Issue and Settlement Date

Wednesday, 22 January 2020

Bidding Convention

Fully paid Bid Price (see Note 1)

Accrued Interest payable with bid

Nil

Auction Close

10:30am London Time

Details of Security

Title

1¼% Treasury Gilt 2041

Amount (nominal) for auction

£2,250 million (see Note 3)

Nominal outstanding after auction

£2,250 million

Maturity Date

22 October 2041 at par

Interest Dates

22 April and 22 October

ISIN Code

GB00BJQWYH73

SEDOL Code

B-JQW-YH7

Strippable

No (see Note 4)

Interest Payable

Gross (see Note 2)

Next Interest Date

22 April 2020 - £0.310792 per £100 nominal
(Short First Coupon)

“When Issued” Trading

under London Stock Exchange Rule 1530

Commences

3:30pm London Time: 14 January 2020

Closes

Close of business: 21 January 2020

“When issued” ISIN Code

GB00BJQWYH73

“When issued” SEDOL Code

B-JQW-YH7

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 later than 10.30 am on Tuesday, 21 January 2020.

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 15% 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.

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

Documentation

Prospectus

DMO : 14 January 2020

https://dmo.gov.uk/media/16249/prosp140120.pdf

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

DMO : January 2017

https://www.dmo.gov.uk/media/14590/infmemadd200117.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

Application forms from Approved Group members must be sent to Computershare Investor Services PLC, who is acting on behalf of the DMO, at the following address: British Government Stocks (Gilts), Computershare Investor Services PLC, The Pavilions, Bridgwater Road, Bristol, BS99 6ZW to arrive not later than 10.00 am on Tuesday, 21 January 2020. They may also be lodged by hand at the DMO, Eastcheap Court, 11 Philpot Lane, London, EC3M 8UD not later than 10.00 am on Tuesday, 21 January 2020.

The amount payable on application in the case of a non-competitive bid made by a member of the Approved Group is £108 per £100 nominal of the Gilt.

Remit 2019-20

Gilt sales of £136.8 billion (cash) are planned in 2019-20


a d v e r t i s e m e n t