LONDON--(BUSINESS WIRE)--
| PRESS NOTICE |
AUCTION OF BRITISH GOVERNMENT STOCK
| Auction Details | ||
| Auction Date | Thursday, 11 September 2014 | |
| Issue and Settlement Date | Friday, 12 September 2014 | |
| Bidding Convention | Fully paid Bid Price (see Note 1) | |
| Accrued Interest payable with bid | £0.755615 per £100 nominal | |
| Auction Close | 10:30am London Time | |
| Details of Security | ||
| Title | 3½% Treasury Gilt 2045 | |
| Amount (nominal) for auction | £2,000 million (fungible with previous issues) (see Note 4) | |
| Nominal outstanding after auction | £7,067.0 million | |
| Maturity Date | 22 January 2045 at par | |
| Interest Dates | 22 January – 22 July | |
| Parent ISIN Code | GB00BN65R313 | |
| Parent SEDOL Code | B-N65-R31 | |
| Strippable | No (see Note 2) | |
| Interest Payable | Gross (see Note 3) | |
| Next Interest Date |
22 January 2015 - £2.011050 per £100 nominal
(Long First Coupon) |
|
| “When Issued” Trading | under London Stock Exchange Rule 1530 | |
| Commences | 3:30pm London Time: 2 September 2014 | |
| Closes | Close of business: 11 September 2014 | |
| “When issued” ISIN Code | GB00BQLF6Q37 | |
| “When issued” SEDOL Code | B-QLF-6Q3 | |
| TIDM (for trade reporting) | AUCB |
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, 11 September 2014.
Note 2. The Gilt may not be stripped and reconstituted until so specified in a notice issued by the DMO.
Note 3: 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 4: 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 : 2 September 2014 |
http://www.dmo.gov.uk/documentview.aspx?docName=/gilts/public/prospectus/prosp020914b.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, 11 September 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, 11 September 2014.
The amount payable on application in the case of a non-competitive bid made by a member of the Approved Group is £118.50 per £100 nominal of the Gilt.
Remit 2014-15
Gilt sales of £127.2 billion (cash) are planned in 2014-15