Issue of Debt
LONDON. January 12, 2023–(BUSINESS WIRE)–
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The Minster Building 21 Mincing Lane London EC3R 7AG |
Tel 020 7862 6500 12 January 2023 |
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PRESS NOTICE |
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BRITISH GOVERNMENT STORK AUCTION
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Auction Details |
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Auction Date |
Thursday, 19th January 2023 |
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Issue and Settlement Date |
Friday, January 20, 2023 |
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Bidding Convention |
Uniform Price (see Not 1) |
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Index adjusted accrued interests payable with the bid |
£0.067414120245 per £100 nominal |
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Auction Open |
10:30am London Time |
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Closed Auction |
London Time at 11:30 AM |
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Post Auction Option Facility Available |
London Time: 2:00pm |
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Close the Post Auction Option |
London Time: 2:30pm |
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Security Details |
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Title |
0⅛% Index-linked Treasury Gilt 2031 |
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Auction: Nominal auction amount |
£1,100 million (fungible with previous issues) (see Note 5) |
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Nominal outstanding following auction |
£11,408.1 million (£13,890.4 million Index adjusted) |
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Maturity Date |
10 August 2031 |
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Interest Payment Dates |
10 February and 10 Aug |
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ISIN Code |
GB00BNNGP551 |
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SEDOL Code |
B-NNG-P55 |
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Reference Index applicable to the first issue date |
293.60323 as at 28.01.2021 (see Note 4) |
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Index Ratio as of 20 January 2023 |
1.21759 |
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Interest is payable |
Gross (see Note 2) |
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Next Interest Payment Date |
10 February 2023 (Standard Coupon). See Note 3. |
Note 1: Bids are possible on either an open or closed basis. Details about the bidding procedure are provided in the prospectus as well as in the Information Memorandum. The Bloomberg Bond Auction System may be used by index-linked Gilt-edged Market Makers to bid at the DMO no earlier than the deadline. 10.30 Am on Thursday, 19th January 2023 Not later than 11.30 Am on Thursday, 19th January 2023.
Note 2 – Holders have the option to have income tax from the United Kingdom deducted from interest payments if they wish. This can be done by applying to Computershare Investor Services PLC.
Note 3: Actual amount of interest per £100 nominal is £0.0625 x Index Ratio for 10 February 2023 and expressed as a percentage in pounds sterling to six places of decimals and rounded to the nearest figure.
Note 4: The Retail Prices Index figure for any calendar month that falls three months before the Reference Index is calculated for the first day of a calendar month. The Reference Index for any other date in the month shall calculate by linear interpolation using the Reference Index applicable only to the first calendar-day of the month in question and the Reference Index applicable only to the following calendar-day. All interpolated values of the Reference Index for any given date should be round to the nearest five decimal places.
Note 5: The auction will be eligible to receive the Post Auction Option Facility for an additional amount of Gilt equal to 25% of the amount allocated at the auction. Information Memorandum and prospectus provide details on the Post Auction Option Facility procedures.
Approved Group of Investors Members may apply
Approved Group members may not apply for the auction.
Gilt sales in 2022-2223
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. After each sale of gilt, the table is updated.
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Contacts
UK Debt Management Office