Issue of Debt

LONDON--(BUSINESS WIRE)--

	The Minster Building	Tel [phone]
	21 Mincing Lane
	London
	EC3R 7AG	www.dmo.gov.uk
		17 July 2024
PRESS NOTICE

AUCTION OF BRITISH GOVERNMENT STOCK

Auction Details
Auction Date	Wednesday, 24 July 2024
Issue and Settlement Date	Thursday, 25 July 2024
Bidding Convention	Fully paid Bid Price (see Note 1)
Rebate Interest to be deducted from amount payable with bid	£0.072115384615 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	4⅜% Treasury Gilt 2054
Amount (nominal) for auction	£2,250 million (fungible with previous issues) (see Note 3)
Nominal outstanding after auction	£15,131.0 million
Maturity Date	31 July 2054 at par
Interest Payment Dates	31 January and 31 July
ISIN Code	GB00BPSNBB36
SEDOL Code	B-PSN-BB3
Strippable	No (see Note 4)
Interest Payable	Gross (see Note 2)
Next Receivable Interest Payment Date	31 January 2025 (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, 24 July 2024 and not later than 10.00 am on Wednesday, 24 July 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 £2,250 million of 4⅜% Treasury Gilt 2054   DMO : 17 July 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 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: 1240819

Time of Receipt (offset from UTC): 20240717T161023+0100