Issue of Debt

·2 min read

LONDON, June 28, 2022--(BUSINESS WIRE)--

The Minster Building

21 Mincing Lane

London

EC3R 7AG

Tel 020 7862 6500

www.dmo.gov.uk

28 June 2022

PRESS NOTICE

AUCTION OF BRITISH GOVERNMENT STOCK

Auction Details

Auction Date

Tuesday, 5 July 2022

Issue and Settlement Date

Wednesday, 6 July 2022

Bidding Convention

Fully paid Bid Price (see Note 1)

Accrued Interest payable with bid

£0.538674033149 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

1¼% Treasury Gilt 2051

Amount (nominal) for auction

£2,000 million (fungible with previous issues) (see Note 3)

Nominal outstanding after auction

£20,079.5 million

Maturity Date

31 July 2051 at par

Interest Payment Dates

31 January and 31 July

ISIN Code

GB00BLH38158

SEDOL Code

B-LH3-815

Strippable

No (see Note 4)

Interest Payable

Gross (see Note 2)

Next Interest Payment Date

31 July 2022 (Standard 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, 5 July 2022 and not later than 10.00 am on Tuesday, 5 July 2022.

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 £2,000 million of 1¼% Treasury Gilt 2051

DMO : 28 June 2022

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/17691/infmemadd140921.pdf

Formulae for Calculating Gilt Prices from Yields

DMO : 16 March 2005

http://www.dmo.gov.uk/media/1955/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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220628005890/en/

Contacts

UK Debt Management Office

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