Issue of Debt

LONDON--(BUSINESS WIRE)-- 

	The Minster Building 21 Mincing Lane London EC3R 7AG	Tel [phone]   www.dmo.gov.uk     28 August 2025
PRESS NOTICE

AUCTION OF BRITISH GOVERNMENT STOCK

Auction Details
Auction Date	Thursday, 4 September 2025
Issue and Settlement Date	Friday, 5 September 2025
Bidding Convention	Uniform Price (see Note 1)
Index adjusted accrued interest payable with bid	£0.315413875679 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	0⅝% Index-linked Treasury Gilt 2045
Amount (nominal) for auction	£800 million (fungible with previous issues) (see Note 5)
Nominal outstanding after auction	£14,198.2 million (£15,789.4 million Index adjusted)
Maturity Date	22 March 2045
Interest Payment Dates	22 March and 22 September
ISIN Code	GB00BMF9LH90
SEDOL Code	B-MF9-LH9
Reference Index applicable to first issue date	363.94000 (as at 27 April 2023) (see Note 4)
Index Ratio at 5 September 2025	1.11207
Interest Payable	Gross (see Note 2)
Next Interest Payment Date	22 September 2025 (Standard 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 Thursday, 4 September 2025 and not later than 10.00 am on Thursday, 4 September 2025.

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 is £0.3125 x Index Ratio for 22 September 2025 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 Price 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 £800 million of 0⅝% Index-linked Treasury Gilt 2045   DMO : 28 August 2025	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 : 1 April 2025	https://www.dmo.gov.uk/media/yf2fyxfz/infmemadd010425_2.pdf
Formulae for Calculating Gilt Prices from Yields   DMO : 18 December 2024	https://www.dmo.gov.uk/media/334d05fo/yldeqns_v4.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 2025-26

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.