Issue of Debt

·3 min read

LONDON, August 16, 2022--(BUSINESS WIRE)--

The Minster Building

21 Mincing Lane



Tel 020 7862 6500

16 August 2022



Auction Details

Auction Date

Tuesday, 23 August 2022

Issue and Settlement Date

Wednesday, 24 August 2022

Bidding Convention

Uniform Price (see Note 1)

Index adjusted accrued interest payable with bid

£0.060195176630 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


0⅛% Index-linked Treasury Gilt 2039

Amount (nominal) for auction

£750 million (fungible with previous issues) (see Note 5)

Nominal outstanding after auction

£6,302.7 million (£7,206.0 million Index adjusted)

Maturity Date

22 March 2039

Interest Payment Dates

22 March and 22 September





Reference Index applicable to first issue date

296.72581 (as at 26 May 2021) (see Note 4)

Index Ratio at 24 August 2022


Interest Payable

Gross (see Note 2)

Next Interest Payment Date

22 September 2022 (Standard Coupon) (see Note 3)

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. Index-linked Gilt-edged Market Makers may bid by means of the Bloomberg Bond Auction System to the DMO not earlier than 9.00 am on Tuesday, 23 August 2022 and not later than 10.00 am on Tuesday, 23 August 2022.

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: Actual amount of interest per £100 nominal is £0.0625 x Index Ratio for 22 September 2022 and expressed as a percentage in pounds sterling to six places of decimals and rounded to the nearest figure.

Note 4: The Reference Index for the first calendar day of any calendar month shall be the Retail Prices Index figure for the calendar month falling three calendar months earlier. The Reference Index for any other day in the month shall be calculated by linear interpolation between the Reference Index applicable to the first calendar day of the month in which the day falls and the Reference Index applicable to the first calendar day of the month immediately following. Interpolated values for the Reference Index 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 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.


Prospectus for auction of £750 million of 0⅛% Index-linked Treasury Gilt 2039

DMO : 16 August 2022

Available on the DMO’s Gilt Market Publications webpage at:

Information Memorandum relating to the Issue, Stripping and Reconstitution of British Government Stock

DMO : 14 September 2021

Formulae for Calculating Gilt Prices from Yields

DMO : 16 March 2005

Applications from Members of the Approved Group of Investors

For this auction applications may not be made by members of the Approved Group.

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UK Debt Management Office