Issue of Debt

LONDON--()-- 

 

 

 

The Minster Building

21 Mincing Lane

London

EC3R 7AG

 

 

Tel 020 7862 6500

 

www.dmo.gov.uk

 

 

4 August 2021

 

PRESS NOTICE

AUCTION OF BRITISH GOVERNMENT STOCK

Auction Details

Auction Date

Wednesday, 11 August 2021

Issue and Settlement Date

Thursday, 12 August 2021

Bidding Convention

Uniform Price (see Note 1)

Index adjusted accrued interest payable with bid

£0.027023131793 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 2039

Amount (nominal) for auction

£700 million (fungible with previous issue) (see Note 5)

Nominal outstanding after auction

£4,700.0 million (£4,793.8 million Index adjusted)

Maturity Date

22 March 2039

Interest Payment Dates

22 March and 22 September

ISIN Code

GB00BLH38265

SEDOL Code

B-LH3-826

Reference Index applicable to first issue date

296.72581 (as at 26 May 2021) (see Note 4)

Index Ratio at 12 August 2021

1.01995

Interest Payable

Gross (see Note 2)

Next Interest Payment Date

22 September 2021 (Short First 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 Wednesday, 11 August 2021 and not later than 10.00 am on Wednesday, 11 August 2021.

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 will be ((119/184) multiplied by £0.0625) x Index Ratio for 22 September 2021 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 Prices 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 £700 million of 0⅛% Index-linked Treasury Gilt 2039

 

DMO : 4 August 2021

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 : 8 March 2021

www.dmo.gov.uk/media/17335/infmemadd080321.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.

Category Code: IOD
Sequence Number: 742997
Time of Receipt (offset from UTC): 20210804T154034+0100

Contacts

UK Debt Management Office

Contacts

UK Debt Management Office