Issue of Debt

LONDON--()-- 

 

 

 

Eastcheap Court

11 Philpot Lane

London

EC3M 8UD

 

 

Tel 020 7862 6500

 

www.dmo.gov.uk

 

 

14 May 2020

 

 

PRESS NOTICE

AUCTION OF BRITISH GOVERNMENT STOCK

Auction Details

Auction Date

Thursday, 21 May 2020

Issue and Settlement Date

Friday, 22 May 2020

Bidding Convention

Uniform Price (see Note 1)

Index adjusted accrued interest payable with bid

£0.036680068681 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

0⅛% Index-Linked Treasury Gilt 2028

Amount (nominal) for auction

£1,250 million (fungible with previous issues) (see Note 5)

Nominal outstanding after auction

£13,688.7 million (£14,334.6 million Index adjusted)

Maturity Date

10 August 2028

Interest Payment 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 22 May 2020

1.04718

Interest Payable

Gross (see Note 2)

Next Interest Payment Date

10 August 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 earlier than 9.00 am on Thursday, 21 May 2020 and not later than 10.00 am on Thursday, 21 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: Actual amount of interest per £100 nominal is £0.0625 x Index Ratio for 10 August 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 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 £1,250 million of 0⅛% Index-Linked Treasury Gilt 2028

 

DMO : 14 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

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: 699676
Time of Receipt (offset from UTC): 20200514T160357+0100

Contacts

UK Debt Management Office

Contacts

UK Debt Management Office