Issue of Debt


DMO PRESS NOTICE   7 April 2015



Auction Details

Auction Date Thursday, 16 April 2015
Issue and Settlement Date Friday, 17 April 2015
Bidding Convention Uniform Price (see Note 1)
Index adjusted accrued interest payable with bid £0.052228 per £100 nominal
Auction Close 10:30am London Time

Details of Security

Title 0⅝% Index-linked Treasury Gilt 2040
Amount (nominal) for auction £1,250 million (fungible with previous issues) (see Note 5)
Nominal outstanding after auction £13,656.1 million (£16,151.9 million Index adjusted)
Maturity Date 22-Mar-40
Interest Dates 22 March and 22 September
Reference Index applicable to first issue date 216.52258 (as at 28 January 2010) (see Note 4)
Index Ratio at 17 April 2015 1.18276
Interest Payable Gross (see Note 2)
Next Interest Date 22 September 2015 (Standard Coupon) (see Note 3)

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. Index-linked Gilt-edged Market Makers may bid by means of the Bloomberg Bond Auction System to the DMO not later than 10.30 am on Thursday, 16 April 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: Actual amount of interest per £100 nominal is £0.3125 x Index Ratio for 22 September 2015 and expressed as a percentage in pounds sterling to six places of decimals and rounded to the nearest figure.
Note 4: The Reference Index for the first calendar day of any calendar month shall be the Retail Price Index figure for the calendar month falling three calendar months earlier. The Reference Index for any other day in the month shall be calculated by linear interpolation between the Reference Index applicable to the first calendar day of the month in which the day falls and the Reference Index applicable to the first calendar day of the month immediately following. Interpolated values for the Reference Index for any date should be rounded to the nearest 5th decimal place.
Note 5: 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.

DMO : 7 April 2015  
Information Memorandum relating to the Issue, Stripping and Reconstitution of British Government Stock

DMO : August 2013  
Formulae for Calculating Gilt Prices from Yields

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: British Government Stocks (Gilts), Computershare Investor Services PLC, The Pavilions, Bridgwater Road, Bristol, BS99 6ZW to arrive not later than 10.00 am on Thursday, 16 April 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 Thursday, 16 April 2015. The amount payable on application in the case of a non-competitive bid made by a member of the Approved Group is £180 per £100 nominal of the Gilt.

Remit 2015-16
Gilt sales of £133.4 billion (cash) are planned in 2015-16

Short Name: UKDMO
Category Code: IOD
Sequence Number: 460056
Time of Receipt (offset from UTC): 20150407T153455+0100


UK Debt Management Office


UK Debt Management Office