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Issue of Debt

LONDON--(BUSINESS WIRE)--

DMO PRESS NOTICE: 1 JULY 2014    
 
AUCTION OF BRITISH GOVERNMENT STOCK  
Auction Details  
Auction Date Tuesday, 8 July 2014
Issue and Settlement Date Wednesday, 9 July 2014
Bidding Convention Fully paid Bid Price (see Note 1)
Accrued Interest payable with bid £1.856354 per £100 nominal
Auction Close 10:30am London Time
 
Details of Security  
Title 4% Treasury Gilt 2060
Amount (nominal) for auction £1,750 million (fungible with previous issues) (see Note 4)
Nominal outstanding after auction £20,513.8 million
Maturity Date 22 January 2060 at par
Interest Dates 22 January – 22 July
Parent ISIN Code GB00B54QLM75
Parent SEDOL Code B-54Q-LM7
Strippable No (see Note 2)
Interest Payable Gross (see Note 3)
Next Interest Date 22 July 2014 (Standard Coupon)
 
“When Issued” Trading under London Stock Exchange Rule 1530
Commences 3:30 pm London Time: 1 July 2014
Closes Close of business: 8 July 2014
“When issued” ISIN Code GB00BN65QT08
“When issued” SEDOL Code B-N65-QT0
TIDM (for trade reporting) AUCA
 

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 Tuesday, 8 July 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

http://www.dmo.gov.uk/documentview.aspx?docName=/gilts/public/prospectus/prosp010714.pdf

DMO : 1 July 2014  
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: PO Box 2411, The Pavilions, Bristol, BS99 6WX to arrive not later than 10.00 am on Tuesday, 8 July 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 Tuesday, 8 July 2014.

 
The amount payable on application in the case of a non-competitive bid made by a member of the Approved Group is £126.50 per £100 nominal of the Gilt.
 
Remit 2014-15
Gilt sales of £127.2 billion (cash) are planned in 2014-15.  

Short Name: UKDMO
Category Code: IOD
Sequence Number: 423021
Time of Receipt (offset from UTC): 20140701T153638+0100

Contacts

UK Debt Management Office