|11 Philpot Lane||T 020 7862 6500|
|London||F 020 7862 6509|
A049\18 9 May 2018
RESULT OF THE SALE BY AUCTION OF £2750 MILLION OF 1⅝% TREASURY GILT 2028
The United Kingdom Debt Management Office ("DMO") announces that the auction of £2,750 million of 1⅝% Treasury Gilt 2028 (ISIN Code: GB00BFX0ZL78) has been allocated as follows:
(Note: all prices in this notice are quoted in pounds and pence)
1. All bids which have been accepted at the lowest accepted price have been allotted 48.9410% of the amount bid for.
Competitive bids made at prices above the lowest accepted price have been allotted in full. Competitive bids made at prices below the lowest accepted price have been rejected.
|2. The range of bids accepted was as follows|
|Non-competitive allotment price||£100.141||1.610%|
|(i.e. the rounded average accepted price)|
|Tail in basis points||
|3. The total amounts allotted and bids received were as follows:|
|Amount allotted to competitive bids||
|Amount allotted to non competitive bids|
|Gilt edged market makers||
|Total bids received||£6,051.857 million|
|Times covered||2.20 times|
4. An additional amount of the Stock totalling up to £412.500 million will be made available to successful bidders for purchase at the non-competitive allotment price, in accordance with the terms of the Information Memorandum.
5. Cheques may be presented for payment. Refund cheques, where appropriate, will be sent as soon as possible by post. Stock allotted to members of CREST will be credited to their accounts by member-to-member deliveries on the relevant settlement date if they so requested.
*Tail is calculated as the yield at the lowest accepted price less the yield at the average accepted price (using unrounded yields). This figure is then multiplied by 100 to convert it into basis points.