Issue of Debt




Eastcheap Court

11 Philpot Lane



Tel       020 7862 6500

Fax      020 7862 6509



11 February 2020


Auction Details

Auction Date

Thursday, 20 February 2020

Issue and Settlement Date

Friday, 21 February 2020

Bidding Convention

Fully paid Bid Price (see Note 1)

Accrued Interest payable with bid

£0.123626373626 per £100 nominal

Auction Close

10:30am London Time

Details of Security


1½% Treasury Gilt 2026

Amount (nominal) for auction

£3,250 million (fungible with previous issues) (see Note 3)

Nominal outstanding after auction

£30,430.9 million

Maturity Date

22 July 2026 at par

Interest Dates

22 January and 22 July






No (see Note 4)

Interest Payable

Gross (see Note 2)

Next Interest Date

22 July 2020 (Standard 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 Thursday, 20 February 2020.

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: 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.

Note 4: The Gilt may not be stripped and reconstituted until so specified in a notice issued by the DMO.


Prospectus for auction of £3,250 million of 1½% Treasury Gilt 2026

DMO : 11 February 2020

Available on the DMO’s Gilt Market Publications webpage at:

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

DMO : January 2017

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, 20 February 2020. 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, 20 February 2020.

The amount payable on application in the case of a non-competitive bid made by a member of the Approved Group is £109.50 per £100 nominal of the Gilt.

Remit 2019-20

Gilt sales of £136.8 billion (cash) are planned in 2019-20

Short Name: UKDMO
Category Code: IOD
Sequence Number: 692183
Time of Receipt (offset from UTC): 20200211T155948+0000


UK Debt Management Office


UK Debt Management Office