Issue of Debt

LONDON--(BUSINESS WIRE)-- 

					DMO-TAS041/2599/005
				Eastcheap Court 11 Philpot Lane London EC3M 8UD				T 020 7862 6500 F 020 7862 6509 www.dmo.gov.uk
A280\20									27 October 2020
PRESS NOTICE
RESULT OF THE SALE BY AUCTION OF £3250 MILLION OF 0⅛% TREASURY GILT 2024 The United Kingdom Debt Management Office ("DMO") announces that the auction of £3,250 million of 0⅛% Treasury Gilt 2024 (ISIN Code: GB00BMGR2791) has been allocated as follows: (Note: all prices in this notice are quoted in pounds and pence)
	1.	All bids which have been accepted at the lowest accepted price have been allotted 37.0588% of the amount bid for.
		Competitive bids made at prices above the lowest accepted price have been allotted in full. Competitive bids made at prices below the lowest accepted price have been rejected.
						Price					Yield
	2.	The range of bids accepted was as follows:
		Highest Accepted					£100.473			-0.020%
		Non-competitive allotment price (i.e. the rounded average accepted price)					£100.464			-0.017%
		Lowest Accepted					£100.457			-0.015%
		Tail in basis points								0.2*
	3.	The total amounts allotted and bids received were as follows:
		Amount allotted to competitive bids		£2,762.499 million
		Amount allotted to non-competitive bids
		Gilt-edged market makers	£487.500 million
		Others	£0.001 million
		Total		£3,250.000 million
		Total bids received	£7,589.500 million
		Times covered		2.34 times
	4.	An additional amount of the Stock totalling up to £812.500 million will be made available to successful bidders for purchase at the non-competitive allotment price, in accordance with the terms of the Information Memorandum.
	5.	Stock allotted to members of CREST will be credited to their accounts by member-to-member deliveries on the relevant settlement date.
		*Tail is calculated as the yield at the lowest accepted price less the yield at the average accepted price (using unrounded yields). This figure is then multiplied by 100 to convert it into basis points.