LONDON–(COMMERCIAL THREAD) –
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Minister’s building
21 hash aisle
London
EC3R 7AG |
Phone 020 7862 6500
www.dmo.gov.uk
March 17, 2021 |
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PRESS NOTICE
AUCTION OF BRITISH GOVERNMENT SHARES
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Auction details |
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Auction date |
Wednesday, March 24, 2021 |
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Date of issue and settlement |
Thursday, March 25, 2021 |
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Tender agreement |
Uniform price (see note 1) |
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Accrued interest adjusted to the index payable with an offer |
£ 0.047266232735 per £ 100 nominal |
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Open auctions |
9:00 a.m. London time |
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Closing of the auction |
10:00 am London time |
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Ease of open post-auction option |
12:30 p.m. London time |
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Post-auction option facility Close |
1:00 p.m. London time |
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Security details |
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Title |
0⅛% Gilt Treasury Index 2056 |
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Amount (nominal) for auction |
£ 350 million (fungible with previous issues) (see note 5) |
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Nominal outstandings after auction |
£ 6,789.4 million (£ 7,555.7 million adjusted according to the index) |
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Due date |
November 22, 2056 |
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Interest payment dates |
May 22 and November 22 |
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ISIN code |
GB00BYVP4K94 |
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SEDOL code |
B-YVP-4K9 |
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Benchmark applicable on the first issue date |
264.88333 (as of November 30, 2016) (see Note 4) |
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Index ratio as of March 25, 2021 |
1.11287 |
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Interest payable |
Gross (see Note 2) |
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Next interest payment date |
May 22, 2021 (standard coupon) (see note 3) |
Note 1: Offers can be made on a competitive or non-competitive basis. Details of the tendering procedures are specified in the prospectus and in the prospectus. Gilt-edge index market makers can bid using the Bloomberg Bond auction system at the DMO at the earliest 9:00 a.m. on Wednesday March 24, 2021 and at the latest 10:00 am Wednesday March 24, 2021.
Note 2: Holders may elect to have UK income tax deducted from interest payments, if they so choose, upon request to the Registrar, Computershare Investor Services PLC.
Note 3: The actual amount of interest per £ 100 nominal is £ 0.0625 x the index ratio for March 25, 2021 and expressed as a percentage in pounds sterling to six decimal places and rounded to the nearest number.
Note 4: The benchmark for the first calendar day of any calendar month will be the retail price index figure for the calendar month falling three calendar months earlier. The Benchmark Index for any other day of the month will be calculated by linear interpolation between the Benchmark Index applicable on the first calendar day of the month in which that day falls and the Benchmark Index applicable on the first calendar day of the immediately following month. . Interpolated values for the benchmark 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 Gilt equivalent to 25% of the nominal amount of Gilt awarded during the auction. Details of the Post-Auction Options Facility procedures are set out in the Information Memorandum as supplemented by the prospectus.
Applications from members of the group of approved investors
For this auction, applications cannot be submitted by members of the Approved Group.
Category code: IOD
Sequence number: 733027
Reception time (offset from UTC): 20210317T163710 + 0000
