Issue of Debt

LONDON--(BUSINESS WIRE)--

		DMO-TAS041/1733/002
		Eastcheap Court 11 Philpot Lane London EC3M 8UD	T 020 7862 6500 F 020 7862 6509   www.dmo.gov.uk
A088\15			2 September 2015
PRESS NOTICE
RESULT OF THE SALE BY AUCTION OF £3750 MILLION OF 1½% TREASURY GILT 2021   The United Kingdom Debt Management Office ("DMO") announces that the auction of £3,750 million of 1½% Treasury Gilt 2021 has been allocated as follows:   (Note: all prices in this notice are quoted in pounds and pence)
1.	All bids which have been accepted at the lowest accepted price have been allotted approximately 14.0% of the amount bid for.
	Competitive bids made at prices above the lowest accepted price have been allotted in full. Competitive bids made at prices below the lowest accepted price have been rejected.
		Price		Yield
2.	The range of bids accepted was as follows:
	Highest Accepted	£100.215		1.458%
	Non-competitive allotment price (i.e. the rounded average accepted price)	£100.199		1.462%
	Lowest Accepted	£100.185		1.464%
	Tail in basis points			0.3*
3.	The total amounts allotted and bids received were as follows:
	Amount allotted to competitive bids	£3,375.000 million
	Amount allotted to non-competitive bids
	Gilt-edged market makers	£374.400 million
	Others	£0.600 million
	Total	£3,750.000 million
	Total bids received	£5,421.437 million
	Times covered	1.45 times
4.	An additional amount of the Stock totalling up to £375 million will be made available to successful bidders for purchase at the non-competitive allotment price, in accordance with the terms of the Information Memorandum.
5.	Cheques may be presented for payment. Refund cheques, where appropriate, will be sent as soon as possible by post. Stock allotted to members of CREST will be credited to their accounts by member-to-member deliveries on the relevant settlement date if they so requested.
	*Tail is calculated as the yield at the lowest accepted price less the yield at the average accepted price (using unrounded yields). This figure is then multiplied by 100 to convert it into basis points.

Category Code: IOD

Sequence Number: 482379

Time of Receipt (offset from UTC): 20150902T104631+0100