Issue of Debt

LONDON--()--

AUCTION OF BRITISH GOVERNMENT STOCK

Auction Details
Auction Date   Wednesday, 18 November 2015
Issue and Settlement Date Thursday, 19 November 2015
Bidding Convention Fully paid Bid Price (see Note 1)
Accrued Interest payable with bid £0.401099 per £100 nominal
Auction Close 10:30am London Time
Details of Security
Title   2% Treasury Gilt 2025
Amount (nominal) for auction £3,250 million (fungible with previous issues) (see Note 3)
Nominal outstanding after auction £22,074.8 million
Maturity Date 7 September 2025 at par
Interest Dates 7 March – 7 September
ISIN Code GB00BTHH2R79
SEDOL Code B-THH-2R7
Strippable Yes, since 30 April 2015
Interest Payable Gross (see Note 2)
Next Interest Date 7 March 2016 (Standard Coupon)

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 Wednesday, 18 November 2015.

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 : 10 November 2015

 

http://www.dmo.gov.uk/documentview.aspx?docName=/gilts/public/prospectus/prosp101115.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: British Government Stocks (Gilts), Computershare Investor Services PLC, The Pavilions, Bridgwater Road, Bristol, BS99 6ZW to arrive not later than 10.00 am on Wednesday, 18 November 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 Wednesday, 18 November 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 2015-16

Gilt sales of £127.4 billion (cash) are planned in 2015-16

Short Name: UKDMO
Category Code: IOD
Sequence Number: 494434
Time of Receipt (offset from UTC): 20151110T160721+0000

Contacts

UK Debt Management Office

Contacts

UK Debt Management Office