Issue of Debt

LONDON--(BUSINESS WIRE)-- 

The Minster Building 21 Mincing Lane London EC3R 7AG

Tel [phone]     www.dmo.gov.uk     28 March 2023

PRESS NOTICE

AUCTION OF BRITISH GOVERNMENT STOCK

Auction Details
Auction Date	Tuesday, 4 April 2023
Issue and Settlement Date	Wednesday, 5 April 2023
Bidding Convention	Fully paid Bid Price (see Note 1)
Accrued Interest payable with bid	£0.198895027624 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	1⅛% Treasury Gilt 2039
Amount (nominal) for auction	£2,250 million (fungible with previous issues) (see Note 3)
Nominal outstanding after auction	£21,878.6 million
Maturity Date	31 January 2039 at par
Interest Payment Dates	31 January and 31 July
ISIN Code	GB00BLPK7334
SEDOL Code	B-LPK-733
Strippable	No (see Note 4)
Interest Payable	Gross (see Note 2)
Next Interest Payment Date	31 July 2023 (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 Tuesday, 4 April 2023 and not later than 10.00 am on Tuesday, 4 April 2023.

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 £2,250 million of 1⅛% Treasury Gilt 2039   DMO : 28 March 2023	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 : 14 September 2021	https://www.dmo.gov.uk/media/hein4pwn/infmemadd140921.pdf
Formulae for Calculating Gilt Prices from Yields   DMO : 16 March 2005	https://www.dmo.gov.uk/media/1sljygul/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.

Gilt sales in 2023-24

The DMO’s remit for 2023-24 was published alongside Spring Budget 2023 on 15 March 2023. Gilt sales of £241.1 billion (cash) are planned in 2023-24.

Category Code: IOD

Sequence Number: 1077429

Time of Receipt (offset from UTC): 20230328T162136+0100