News Column

Issue of Debt

August 19, 2014

LONDON--(BUSINESS WIRE)--

PRESS NOTICE


AUCTION OF BRITISH GOVERNMENT STOCK

Auction Details
Auction Date   Wednesday, 27 August 2014
Issue and Settlement Date Thursday, 28 August 2014
Bidding Convention Uniform Price (see Note 1)
Index adjusted accrued interest payable with bid £0.319585 per £100 nominal
Auction Close 10:30am London Time

Details of Security

Title 0?% Index-linked Treasury Gilt 2040
Amount (nominal) for auction £900 million (fungible with previous issues) (see Note 5)
Nominal outstanding after auction £12,337.9 million (£14,601.6 million Index adjusted)
Maturity Date 22 March 2040
Interest Dates 22 March and 22 September
Parent ISIN Code GB00B3LZBF68
Parent SEDOL Code B-3LZ-BF6
Reference Index applicable to first issue date 216.52258 (as at 28 January 2010) (see Note 4)
Index Ratio at 28 August 2014 1.18347
Interest Payable Gross (see Note 2)
Next Interest Date 22 September 2014 (Standard Coupon) (see Note 3)

“When Issued” Trading

under London Stock Exchange Rule 1530

Commences 3:30pm London Time: 19 August 2014
Closes Close of business: 27 August 2014
“When issued” ISIN Code GB00BN65R081
“When issued” SEDOL Code B-N65-R08
TIDM (for trade reporting) AUCA


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 later than 10.30 am on Wednesday, 27 August 2014.

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 2014 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 10% 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 : 19 August 2014

 

http://www.dmo.gov.uk/documentview.aspx?docName=/gilts/public/prospectus/prosp190814.pdf

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

DMO : August 2013

http://www.dmo.gov.uk/documentview.aspx?docName=/publications/operationalrules/infmemadd220813.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 are acting on behalf of the DMO, at the following address: PO Box 2411, The Pavilions, Bristol, BS99 6WX to arrive not later than 10.00 am on Wednesday, 27 August 2014. 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 Wednesday, 27 August 2014. The amount payable on application in the case of a non-competitive bid made by a member of the Approved Group is £155.50 per £100 nominal of the Gilt.

Remit 2014-15

Gilt sales of £127.2 billion (cash) are planned in 2014-15




UK Debt Management Office

Source: UK Debt Management Office


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Source: Business Wire (UK Regulatory)


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