UK Debt Management Office UK Regulatory Announcement: Debt Issuance



Minister’s building

21 hash aisle



Phone 020 7862 6500

March 17, 2021



Auction details

Auction date

Wednesday, March 24, 2021

Date of issue and settlement

Thursday, March 25, 2021

Tender agreement

Uniform price (see note 1)

Accrued interest adjusted to the index payable with an offer

£ 0.047266232735 per £ 100 nominal

Open auctions

9:00 a.m. London time

Closing of the auction

10:00 am London time

Ease of open post-auction option

12:30 p.m. London time

Post-auction option facility Close

1:00 p.m. London time

Security details


0⅛% Gilt Treasury Index 2056

Amount (nominal) for auction

£ 350 million (fungible with previous issues) (see note 5)

Nominal outstandings after auction

£ 6,789.4 million (£ 7,555.7 million adjusted according to the index)

Due date

November 22, 2056

Interest payment dates

May 22 and November 22

ISIN code


SEDOL code


Benchmark applicable on the first issue date

264.88333 (as of November 30, 2016) (see Note 4)

Index ratio as of March 25, 2021


Interest payable

Gross (see Note 2)

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

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