Issue of Debt

LONDON--()--
 

 

 

 

Eastcheap Court

11 Philpot Lane

London

EC3M 8UD

Tel 020 7862 6500

 

 

www.dmo.gov.uk

 

 

13 May 2020

 

PRESS NOTICE

AUCTION OF BRITISH GOVERNMENT STOCK

Auction Details

Auction Date

Wednesday, 20 May 2020

Issue and Settlement Date

Thursday, 21 May 2020

Bidding Convention

Fully paid Bid Price (see Note 1)

Accrued Interest payable with bid

£0.247252747253 per £100 nominal

Auction Open

9:00am London Time

Auction Close

10:00am London Time

Post Auction Option Facility Open

12:30pm London Time

Post Auction Option Facility Close

1:00pm London Time

Details of Security

Title

0¾% Treasury Gilt 2023

Amount (nominal) for auction

£3,750 million (fungible with previous issues) (see Note 3)

Nominal outstanding after auction

£33,611.0 million

Maturity Date

22 July 2023 at par

Interest Payment Dates

22 January and 22 July

ISIN Code

GB00BF0HZ991

SEDOL Code

B-F0H-Z99

Strippable

No (see Note 4)

Interest Payable

Gross (see Note 2)

Next Interest Payment 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 earlier than 9.00 am on Wednesday, 20 May 2020 and not later than 10.00 am on Wednesday, 20 May 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.

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 £3,750 million of 0¾% Treasury Gilt 2023

 

DMO : 13 May 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.

Short Name: UKDMO
Category Code: IOD
Sequence Number: 699592
Time of Receipt (offset from UTC): 20200513T161056+0100

Contacts

UK Debt Management Office

Contacts

UK Debt Management Office