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Issue of Debt

LONDON--(BUSINESS WIRE)--

DMO PRESS NOTICE

 

AUCTION OF BRITISH GOVERNMENT STOCK
     
Auction Details  
Auction Date Tuesday, 22 July 2014
Issue and Settlement Date Wednesday, 23 July 2014
Bidding Convention Fully paid Bid Price (see Note 1)
Accrued Interest payable with bid £0.993886 per £100 nominal
Auction Close 10:30am London Time
Details of Security  
Title 2¾% Treasury Gilt 2024
Amount (nominal) for auction £3,250 million (fungible with previous issues) (see Note 4)
Nominal outstanding after auction £13,417.8 million
Maturity Date 7 September 2024 at par
Interest Dates 7 March – 7 September
Parent ISIN Code GB00BHBFH458
Parent SEDOL Code B-HBF-H45
Strippable Yes, since 30 April 2014 (see Note 2)
Interest Payable Gross (see Note 3)
Next Interest Date 7 September 2014 - £1.337636 per £100 nominal
  (Short First Coupon)
“When Issued” Trading under London Stock Exchange Rule 1530
Commences 3:30pm London Time: 15 July 2014
Closes Close of business: 22 July 2014
“When issued” ISIN Code GB00BN65QW37
“When issued” SEDOL Code B-N65-QW3
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, 22 July 2014.
 
Note 2: 2¾% Treasury Gilt 2024 may be stripped and holdings of the Gilt reconstituted: the provisions relating to strips contained in the Information Memorandum will therefore apply except that the minimum stripping unit will be £1,000,000 nominal until the payment of the non-standard first coupon on 7 September 2014, after which the standard minimum stripping unit of £10,000 nominal will apply.
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/prosp150714.pdf

DMO : 15 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, 22 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, 22 July 2014.
 
The amount payable on application in the case of a non-competitive bid made by a member of the Approved Group is £104.50 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: 424673
Time of Receipt (offset from UTC): 20140715T153512+0100

Contacts

UK Debt Management Office