Issue of Debt

LONDON--()-- 

 

 

 

 

Eastcheap Court

11 Philpot Lane

London

EC3M 8UD

Tel 020 7862 6500

 

 

www.dmo.gov.uk

 

 

7 July 2020

PRESS NOTICE

AUCTION OF BRITISH GOVERNMENT STOCK

Auction Details

Auction Date

Tuesday, 14 July 2020

Issue and Settlement Date

Wednesday, 15 July 2020

Bidding Convention

Fully paid Bid Price (see Note 1)

Accrued Interest payable with bid

£0.014423076923 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% Treasury Gilt 2026

Amount (nominal) for auction

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

Nominal outstanding after auction

£9,828.8 million

Maturity Date

30 January 2026 at par

Interest Payment Dates

30 January and 30 July

ISIN Code

GB00BL68HJ26

SEDOL Code

B-L68-HJ2

Strippable

No (see Note 4)

Interest Payable

Gross (see Note 2)

Next Interest Payment Date

30 January 2021 - £0.082074 per £100 nominal

(Long first 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 Tuesday, 14 July 2020 and not later than 10.00 am on Tuesday, 14 July 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 £3,250 million of 0⅛% Treasury Gilt 2026

 

DMO : 7 July 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: 704057
Time of Receipt (offset from UTC): 20200714T105442+0100

Contacts

UK Debt Management Office

Contacts

UK Debt Management Office