Issue of Debt

LONDON--()-- 

 

 

 

 

Eastcheap Court

11 Philpot Lane

London

EC3M 8UD

Tel 020 7862 6500

Fax 020 7862 6509

 

www.dmo.gov.uk

 

 

15 April 2020

UPDATED PRESS NOTICE

SUPERSEDING THE PRESS NOTICE DATED 14 APRIL 2020

IN RELATION TO 0⅝% TREASURY GILT 2025

AUCTION OF BRITISH GOVERNMENT STOCK

This Press Notice has been updated to reflect a revised “Nominal outstanding after auction” figure to include the nominal amount of 0⅝% Treasury Gilt 2025 that will be created and issued to the DMO on Tuesday, 21 April 2020 for use in the DMO’s Exchequer cash management operations. The additional collateral will be held on the Debt Management Account by the DMO and will not be available for outright sale. For further details please see https://www.dmo.gov.uk/media/16420/pr090420collateral.pdf.

Auction Details

Auction Date

Tuesday, 21 April 2020

Issue and Settlement Date

Wednesday, 22 April 2020

Bidding Convention

Fully paid Bid Price (see Note 1)

Accrued Interest payable with bid

£0.233948087432 per £100 nominal

Auction Open

9:00am London Time

Auction Close

10:00am London Time

Details of Security

Title

0⅝% Treasury Gilt 2025

Amount (nominal) for auction

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

Nominal outstanding after auction

£29,782.2 million

Maturity Date

7 June 2025 at par

Interest Dates

7 June and 7 December

ISIN Code

GB00BK5CVX03

SEDOL Code

B-K5C-VX0

Strippable

Yes, since 7 August 2019

Interest Payable

Gross (see Note 2)

Next Interest Date

7 June 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 10.00 am on Tuesday, 21 April 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 25% 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, as supplemented by the Prospectus.

Documentation

Prospectus for auction of £3,250 million of 0⅝% Treasury Gilt 2025

 

DMO : 14 April 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 : 31 March 2020

https://www.dmo.gov.uk/media/16368/infmemadd310320.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

For this auction applications may not be made by members of the Approved Group.

Remit 2020-21

Gilt sales of £156.1 billion (cash) are currently planned in 2020-21

Short Name: UKDMO
Category Code: IOD
Sequence Number: 697188
Time of Receipt (offset from UTC): 20200415T164147+0100

Contacts

UK Debt Management Office

Contacts

UK Debt Management Office