Issue of Debt

LONDON--()--
 
AUCTION OF BRITISH GOVERNMENT STOCK
 
Auction Details  
Auction Date Thursday, 19 March 2015
Issue and Settlement Date Friday, 20 March 2015
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 2% Treasury Gilt 2025
Amount (nominal) for auction £2,750 million (see Note 4)
Nominal outstanding after auction £2,750 million
Maturity Date 7 September 2025 at par
Interest Dates 7 March – 7 September
Parent ISIN Code GB00BTHH2R79
Parent SEDOL Code B-THH-2R7
Strippable No (see Note 2)
Interest Payable Gross (see Note 3)
Next Interest Date 7 September 2015 - £0.929348 per £100 nominal
  (Short First Coupon)
 
“When Issued” Trading under London Stock Exchange Rule 1530
Commences 3:30pm London Time: 10 March 2015
Closes Close of business: 19 March 2015
“When issued” ISIN Code GB00BTHH2R79
“When issued” SEDOL Code B-THH-2R7
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, 19 March 2015.
 
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

http://www.dmo.gov.uk/documentview.aspx?docName=/gilts/public/prospectus/prosp100315.pdf

DMO : 10 March 2015  
Information Memorandum relating to the Issue, Stripping and Reconstitution of British Government Stock

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

DMO : August 2013  
Formulae for Calculating Gilt Prices from Yields

www.dmo.gov.uk/documentview.aspx?docname=/giltsmarket/formulae/yldeqns.pdf

DMO : 16 March 2005  
 
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: British Government Stocks (Gilts), Computershare Investor Services PLC, The Pavilions, Bridgwater Road, Bristol, BS99 6ZW to arrive not later than 10.00 am on Thursday, 19 March 2015. 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, 19 March 2015.
 
The amount payable on application in the case of a non-competitive bid made by a member of the Approved Group is £103.50 per £100 nominal of the Gilt.
 
Remit 2014-15
Gilt sales of £125.9 billion (cash) are planned in 2014-15  

Short Name: UKDMO
Category Code: IOD
Sequence Number: 456036
Time of Receipt (offset from UTC): 20150310T154023+0000

Contacts

UK Debt Management Office

Contacts

UK Debt Management Office