Issue of Debt

LONDON--()-- 

The Minster Building

21 Mincing Lane

London

EC3R 7AG

 

Tel 020 7862 6500

 

 

www.dmo.gov.uk

 

 

19 June 2024

 

PRESS NOTICE

AUCTION OF BRITISH GOVERNMENT STOCK

Auction Details

Auction Date

Wednesday, 26 June 2024

Issue and Settlement Date

Thursday, 27 June 2024

Bidding Convention

Fully paid Bid Price (see Note 1)

Accrued Interest payable with bid

£1.545329670330 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

3¾% Treasury Gilt 2038

Amount (nominal) for auction

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

Nominal outstanding after auction

£25,206.6 million

Maturity Date

29 January 2038 at par

Interest Payment Dates

29 January and 29 July

ISIN Code

GB00BQC4R999

SEDOL Code

B-QC4-R99

Strippable

No (see Note 4)

Interest Payable

Gross (see Note 2)

Next Interest Payment Date

29 July 2024 (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 Wednesday, 26 June 2024 and not later than 10.00 am on Wednesday, 26 June 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 £3,000 million of 3¾% Treasury Gilt 2038

 

DMO : 19 June 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 : 28 March 2024

https://www.dmo.gov.uk/media/qvzhi5wt/infmemadd280324.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 2024-25

A table showing the progress of gilt sales in the current financial year is published in the ‘Responsibilities – Financing Remit’ section of the DMO’s website at: https://www.dmo.gov.uk/dmo_static_reports/currentremit.pdf. The table is updated after the conclusion of every gilt sales operation.

Category Code: IOD
Sequence Number: 1237368
Time of Receipt (offset from UTC): 20240619T162811+0100

Contacts

UK Debt Management Office

Contacts

UK Debt Management Office