11 Philpot Lane
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31 May 2016
AUCTION OF BRITISH GOVERNMENT STOCK
|Auction Date||Thursday, 9 June 2016|
|Issue and Settlement Date||Friday, 10 June 2016|
|Bidding Convention||Uniform Price (see Note 1)|
|Index adjusted accrued interest payable with bid||£0.006483 per £100 nominal|
|Auction Close||10:30am London Time|
|Details of Security|
|Title||0⅛% Index-linked Treasury Gilt 2036|
|Amount (nominal) for auction||£900 million (fungible with previous issue) (see Note 5)|
|Nominal outstanding after auction||£1953.2 million (£1961.9 million Index adjusted)|
|Maturity Date||22 November 2036|
|Interest Dates||22 May and 22 November|
|Reference Index applicable to first issue date||260.01935 (as at 11 March 2016) (see Note 4)|
|Index Ratio at 10 June 2016||1.00450|
|Interest Payable||Gross (see Note 2)|
|Next Interest Date||22 November 2016 (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, 9 June 2016.
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 £0.0625 x Index Ratio for 22 November 2016 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 15% 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 : 31 May 2016
Information Memorandum relating to the Issue, Stripping and
Reconstitution of British Government Stock
DMO : March 2016
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 is 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, 9 June 2016. 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, 9 June 2016. The amount payable on application in the case of a non-competitive bid made by a member of the Approved Group is £129.50 per £100 nominal of the Gilt.
Gilt sales of £131.5 billion (cash) are planned in 2016-17