Issue of Debt

	LONDON--(BUSINESS WIRE)--
	Eastcheap Court 11 Philpot Lane London EC3M 8UD	Tel [phone] Fax [phone]   www.dmo.gov.uk     10 March 2020
PRESS NOTICE

AUCTION OF BRITISH GOVERNMENT STOCK

Auction Details
Auction Date	Tuesday, 17 March 2020
Issue and Settlement Date	Wednesday, 18 March 2020
Bidding Convention	Fully paid Bid Price (see Note 1)
Accrued Interest payable with bid	£0.269230769231 per £100 nominal
Auction Close	10:30am London Time

Details of Security
Title	1¾% Treasury Gilt 2049
Amount (nominal) for auction	£2,000 million (fungible with previous issues) (see Note 3)
Nominal outstanding after auction	£17,255.6 million
Maturity Date	22 January 2049 at par
Interest Dates	22 January and 22 July
ISIN Code	GB00BFWFPP71
SEDOL Code	B-FWF-PP7
Strippable	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 Tuesday, 17 March 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.

Documentation
Prospectus for auction of £2,000 million of 1¾% Treasury Gilt 2049   DMO : 10 March 2020	Available on the DMO’s Gilt Market Publications webpage at: https://www.dmo.gov.uk/publications/
Information Memorandum relating to the Issue, Stripping and Reconstitution of British Government Stock   DMO : January 2017	https://www.dmo.gov.uk/media/14590/infmemadd200117.pdf
Formulae for Calculating Gilt Prices from Yields   DMO : 16 March 2005	http://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, 17 March 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 Tuesday, 17 March 2020.

The amount payable on application in the case of a non-competitive bid made by a member of the Approved Group is £140 per £100 nominal of the Gilt.

Remit 2019-20

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