11 Philpot Lane
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Fax 020 7862 6509
27 September 2016
AUCTION OF BRITISH GOVERNMENT STOCK
|Auction Date||Tuesday, 4 October 2016|
|Issue and Settlement Date||Wednesday, 5 October 2016|
|Bidding Convention||Fully paid Bid Price (see Note 1)|
|Accrued Interest payable with bid||£0.085598 per £100 nominal|
|Auction Close||10:30am London Time|
|Details of Security|
|Title||0½% Treasury Gilt 2022|
|Amount (nominal) for auction||£2,750 million (fungible with previous issues) (see Note 4)|
|Nominal outstanding after auction||£8,400.9 million|
|Maturity Date||22 July 2022 at par|
|Interest Dates||22 January – 22 July|
|Strippable||No (see Note 2)|
|Interest Payable||Gross (see Note 3)|
|Next Interest Date||
22 January 2017 - £0.233696 per £100 nominal
(Short First Coupon)
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, 4 October 2016.
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 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 : 27 September 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 Tuesday, 4 October 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 Tuesday, 4 October 2016.
The amount payable on application in the case of a non-competitive bid made by a member of the Approved Group is £103.50 per £100 nominal of the Gilt.
Gilt sales of £131.5 billion (cash) are planned in 2016-17.