Issue of Debt

LONDON--()--

AUCTION OF BRITISH GOVERNMENT STOCK

Auction Details
Auction Date   Thursday, 20 February 2014
Issue and Settlement Date Friday, 21 February 2014
Bidding Convention Fully paid Bid Price (see Note 1)
Accrued Interest payable with bid £1.037983 per £100 nominal
Auction Close 10:30am London Time
Details of Security
Title   2¼% Treasury Gilt 2023
Amount (nominal) for auction £3,000 million (fungible with previous issues) (see Note 3)
Nominal outstanding after auction £26,823.1 million
Maturity Date 7 September 2023 at par
Interest Dates 7 March – 7 September
Parent ISIN Code GB00B7Z53659
Parent SEDOL Code B-7Z5-365
Strippable Yes, since 3 July 2013
Interest Payable Gross (see Note 2)
Next Interest Date 7 March 2014 (Standard Coupon)
“When Issued” Trading   under London Stock Exchange Rule 1530
Commences 3:30pm London Time: 11 February 2014
Closes Close of business: 20 February 2014
“When issued” ISIN Code GB00BHBFH235
“When issued” SEDOL Code B-HBF-H23
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 Thursday, 20 February 2014.

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 10% 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.

Documentation
Prospectus

DMO : 11 February 2014

 

http://www.dmo.gov.uk/documentview.aspx?docName=/gilts/public/prospectus/prosp110214.pdf

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

DMO : August 2013

http://www.dmo.gov.uk/documentview.aspx?docName=/publications/operationalrules/infmemadd220813.pdf

Formulae for Calculating Gilt Prices from Yields

DMO : 16 March 2005

www.dmo.gov.uk/documentview.aspx?docname=/giltsmarket/formulae/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 are acting on behalf of the DMO, at the following address: PO Box 2411, The Pavilions, Bristol, BS99 6WX to arrive not later than 10.00 am on Thursday, 20 February 2014. 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 Thursday, 20 February 2014.

The amount payable on application in the case of a non-competitive bid made by a member of the Approved Group is £100.00 per £100 nominal of the Gilt.

Remit 2013-14

Gilt sales of £153.7 billion (cash) are planned in 2013-14

Short Name: UKDMO
Category Code: IOD
Sequence Number: 407514
Time of Receipt (offset from UTC): 20140211T154638+0000

Contacts

UK Debt Management Office

Sharing

Contacts

UK Debt Management Office