Issue of Debt






The Minster Building

21 Mincing Lane



Tel 020 7862 6500



31 October 2023



Auction Details

Auction Date

Tuesday, 7 November 2023

Issue and Settlement Date

Wednesday, 8 November 2023

Bidding Convention

Fully paid Bid Price (see Note 1)

Accrued Interest payable with bid

£0.339334239130 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


4⅝% Treasury Gilt 2034

Amount (nominal) for auction

£3,750 million (fungible with previous issue) (see Note 3)

Nominal outstanding after auction

£8,437.5 million

Maturity Date

31 January 2034 at par

Interest Payment Dates

31 January and 31 July






No (see Note 4)

Interest Payable

Gross (see Note 2)

Next Interest Payment Date

31 January 2024 - £1.395041 per £100 nominal
(Short 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, 7 November 2023 and not later than 10.00 am on Tuesday, 7 November 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.


Prospectus for auction of £3,750 million of 4⅝% Treasury Gilt 2034


DMO : 31 October 2023

Available on the DMO’s Gilt Market Publications webpage at:

Information Memorandum relating to the Issue, Stripping and Reconstitution of British Government Stock


DMO : 14 September 2021

Formulae for Calculating Gilt Prices from Yields


DMO : 16 March 2005

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

A table showing the progress of gilt sales in the current financial year is published in the ‘Responsibilities – Financing Remit’ section of the DMO website at: The table is updated after the conclusion of every gilt sales operation.

Category Code: IOD
Sequence Number: 1184505
Time of Receipt (offset from UTC): 20231031T162837+0000


UK Debt Management Office


UK Debt Management Office