Issue of Debt

LONDON--()--

DMO-TAS041/1883/003
 
Eastcheap Court

11 Philpot Lane

London

EC3M 8UD

T 020 7862 6500

F 020 7862 6509

 

www.dmo.gov.uk

 

A107\16

4 October 2016
 
PRESS NOTICE
 
RESULT OF THE SALE BY AUCTION OF £2750 MILLION OF 0½% TREASURY GILT 2022

 

The United Kingdom Debt Management Office ("DMO") announces that the auction of £2,750 million of 0½% Treasury Gilt 2022 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 8.6000% 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 £101.039 0.319%
 
Non-competitive allotment price

(i.e. the rounded average accepted price)

£100.973 0.330%
 
Lowest Accepted £100.946 0.335%
 
Tail in basis points 0.5*
 
3. The total amounts allotted and bids received were as follows:
Amount allotted to competitive bids £2,337.200 million
Amount allotted to non-competitive bids
Gilt-edged market makers £412.800 million
Others £0.000 million
Total

£2,750.000 million

Total bids received

£6,366.800 million

Times covered 2.32 times
 
 
4. An additional amount of the Stock totalling up to £412.500 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.

Short Name: UKDMO
Category Code: IOD
Sequence Number: 552142
Time of Receipt (offset from UTC): 20161004T105856+0100

Contacts

UK Debt Management Office

Contacts

UK Debt Management Office