Issue of Debt

LONDON--()-- 

Eastcheap Court
11 Philpot Lane
London
EC3M 8UD

Tel 020 7862 6500
Fax 020 7862 6509

www.dmo.gov.uk

PRESS NOTICE

AUCTION OF BRITISH GOVERNMENT STOCK

Auction Details

Auction Date

Tuesday, 20 August 2019

Issue and Settlement Date

Wednesday, 21 August 2019

Bidding Convention

Uniform Price (see Note 1)

Index adjusted accrued interest payable with bid

£0.003873 per £100 nominal

Auction Close

10:30am London Time

Details of Security

Title

0⅛% Index-Linked Treasury Gilt 2028

Amount (nominal) for auction

£1,100 million (fungible with previous issues) (see Note 5)

Nominal outstanding after auction

£7,373.5 million (£7,643.5 million Index adjusted)

Maturity Date

10 August 2028

Interest Dates

10 February and 10 August

ISIN Code

GB00BZ1NTB69

SEDOL Code

B-Z1N-TB6

Reference Index applicable to first issue date

279.23333 (as at 21 June 2018) (see Note 4)

Index Ratio at 21 August 2019

1.03662

Interest Payable

Gross (see Note 2)

Next Interest Date

10 February 2020 (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 Tuesday, 20 August 2019.

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 10 February 2020 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 : 13 August 2019

https://www.dmo.gov.uk/media/16047/prosp130819a.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 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, 20 August 2019. 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, 20 August 2019. The amount payable on application in the case of a non-competitive bid made by a member of the Approved Group is £139 per £100 nominal of the Gilt.

Remit 2019-20

Gilt sales of £117.8 billion (cash) are planned in 2019-20

Short Name: UKDMO
Category Code: IOD
Sequence Number: 673809
Time of Receipt (offset from UTC): 20190813T161320+0100

Contacts

UK Debt Management Office

Contacts

UK Debt Management Office