Source - BUS

Issue of Debt

UK Debt Management Office

Eastcheap Court

11 Philpot Lane

London

EC3M 8UD

                                                                                                                             

Tel 020 7862 6500

Fax 020 7862 6509

 

www.dmo.gov.uk

 

 

27 September 2016

PRESS NOTICE

AUCTION OF BRITISH GOVERNMENT STOCK

Auction Details
Auction Date   Tuesday, 4 October 2016
Issue and Settlement Date Wednesday, 5 October 2016
Bidding Convention Fully paid Bid Price (see Note 1)
Accrued Interest payable with bid £0.085598 per £100 nominal
Auction Close 10:30am London Time
Details of Security
Title   0½% Treasury Gilt 2022
Amount (nominal) for auction £2,750 million (fungible with previous issues) (see Note 4)
Nominal outstanding after auction £8,400.9 million
Maturity Date 22 July 2022 at par
Interest Dates 22 January – 22 July
ISIN Code GB00BD0PCK97
SEDOL Code B-D0P-CK9
Strippable No (see Note 2)
Interest Payable Gross (see Note 3)
Next Interest Date 22 January 2017 - £0.233696 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 later than 10.30 am on Tuesday, 4 October 2016.

Note 2. The Gilt may not be stripped and reconstituted until so specified in a notice issued by the DMO.

Note 3: 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 4: 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 15% 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.

Documentation
Prospectus

DMO : 27 September 2016

 

http://www.dmo.gov.uk/documentview.aspx?docName=/gilts/public/prospectus/prosp270916a.pdf

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

DMO : March 2016

http://www.dmo.gov.uk/documentview.aspx?docName=/publications/operationalrules/infmemadd240316.pdf

Formulae for Calculating Gilt Prices from Yields

DMO : 16 March 2005

www.dmo.gov.uk/documentview.aspx?docname=/giltsmarket/formulae/yldeqns.pdf

Applications from Members of the Approved Group of Investors

Application forms from Approved Group members must be sent to Computershare Investor Services PLC, who is acting on behalf of the DMO, at the following address: British Government Stocks (Gilts), Computershare Investor Services PLC, The Pavilions, Bridgwater Road, Bristol, BS99 6ZW to arrive not later than 10.00 am on Tuesday, 4 October 2016. They may also be lodged by hand at the DMO, Eastcheap Court, 11 Philpot Lane, London, EC3M 8UD not later than 10.00 am on Tuesday, 4 October 2016.

The amount payable on application in the case of a non-competitive bid made by a member of the Approved Group is £103.50 per £100 nominal of the Gilt.

Remit 2016-17

Gilt sales of £131.5 billion (cash) are planned in 2016-17.