Issue of Debt

LONDON--()--

     
Eastcheap Court

11 Philpot Lane

London

EC3M 8UD

Tel 020 7862 6500

Fax 020 7862 6509

 

www.dmo.gov.uk

 

 

12 June 2018

 
PRESS NOTICE
 

AUCTION OF BRITISH GOVERNMENT STOCK

Auction Details
Auction Date   Wednesday, 20 June 2018
Issue and Settlement Date Thursday, 21 June 2018
Bidding Convention Uniform Price (see Note 1)
Accrued interest payable with bid Nil
Auction Close 10:30am London Time
Details of Security
Title   0⅛% Index-linked Treasury Gilt 2028
Amount (nominal) for auction £1,250 million (see Note 5)
Nominal outstanding after auction £1,250 million
Maturity Date 10 August 2028
Interest Dates 10 February and 10 August
Parent ISIN Code GB00BZ1NTB69
Parent SEDOL Code B-Z1N-TB6
Reference Index applicable to first issue date 279.23333 (as at 21 June 2018) (see Note 4)
Interest Payable Gross (see Note 2)
Next Interest Date 10 February 2019 (Long First Coupon) (see Note 3)
“When Issued” Trading   under London Stock Exchange Rule 1530
Commences 3:30pm London Time: 12 June 2018
Closes Close of business: 20 June 2018
“When issued” ISIN Code GB00BZ1NTB69
“When issued” SEDOL Code B-Z1N-TB6
TIDM (for trade reporting) AUC

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 Wednesday, 20 June 2018.

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 will be (1+(50/181)) x £0.0625 x Index Ratio for 10 February 2019 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.

Documentation
Prospectus

DMO : 12 June 2018

https://www.dmo.gov.uk/media/15538/prosp120618.pdf

Information Memorandum relating to the Issue, Stripping and Reconstitution of British Government Stock

DMO : January 2017

http://www.dmo.gov.uk/media/14590/infmemadd200117.pdf

Formulae for Calculating Gilt Prices from Yields

DMO : 16 March 2005

www.dmo.gov.uk/media/1955/yldeqns.pdf

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 Wednesday, 20 June 2018. 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 Wednesday, 20 June 2018. The amount payable on application in the case of a non-competitive bid made by a member of the Approved Group is £122.50 per £100 nominal of the Gilt.

Remit 2018-19

Gilt sales of £106 billion (cash) are planned in 2018-19

Short Name: UKDMO
Category Code: IOD
Sequence Number: 649236
Time of Receipt (offset from UTC): 20180612T163716+0100

Contacts

UK Debt Management Office

Contacts

UK Debt Management Office