Issue of Debt

LONDON--(BUSINESS WIRE)-- 

	The Minster Building 21 Mincing Lane London EC3R 7AG	Tel [phone]     www.dmo.gov.uk     3 January 2024
PRESS NOTICE

AUCTION OF BRITISH GOVERNMENT STOCK

Auction Details
Auction Date	Wednesday, 10 January 2024
Issue and Settlement Date	Thursday, 11 January 2024
Bidding Convention	Fully paid Bid Price (see Note 1)
Accrued Interest payable with bid	Nil
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	3¾% Treasury Gilt 2027
Amount (nominal) for auction	£4,000 million (see Note 3)
Nominal outstanding after auction	£4,000.0 million
Maturity Date	7 March 2027 at par
Interest Payment Dates	7 March and 7 September
ISIN Code	GB00BPSNB460
SEDOL Code	B-PSN-B46
Strippable	No (see Note 4)
Interest Payable	Gross (see Note 2)
Next Interest Payment Date	7 September 2024 - £2.451923 per £100 nominal (Long First Coupon)

“When Issued” Trading	under London Stock Exchange Rule 1530
Commences	3:30pm London Time: 3 January 2024
Closes	Close of business: 10 January 2024
“When issued” ISIN Code	GB00BPSNB460
“When issued” SEDOL Code	B-PSN-B46
TIDM (for trade reporting)	AUC

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 Wednesday, 10 January 2024 and not later than 10.00 am on Wednesday, 10 January 2024.

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 £4,000 million of 3¾% Treasury Gilt 2027   DMO : 3 January 2024	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

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: https://www.dmo.gov.uk/dmo_static_reports/currentremit.pdf.

The table is updated after the conclusion of every gilt sales operation.