News Release
Additional Issue of Government Stock
02 October 1997
The Bank of England announces that Her Majesty's Treasury has created on 02 October 1997 an additional amount of the following stock:
| £150 million | 2% Index-Linked Treasury Stock 2006 |
The issue price was the middle market price of the stock at 10.15 am on 02 October 1997 as certified by the Government Broker.
The stock now issued represents a further amount of the existing stock, carrying the same rights as that stock and subject to the terms and conditions applicable to that stock.
The further issue of the stock will rank for the full six months' interest on the next interest payment date applicable to the stock.
Notes to Editors
The further amount of stock will be available for dealing from 10.45 am today.
As announced in the Budget, with effect from 6 April 1998, all gilt interest will be payable without deduction of withholding tax, although investors who wish to continue to receive net dividends will be able to do so. The quarterly accounting arrangements for gross gilt interest received by UK taxable companies will remain in place for interest on those gilts to which quarterly accounting at present applies; but quarterly accounting will not apply to interest on future new gilt issues unless HM Treasury directs at the time a new gilt is issued that it is to apply to interest on that gilt.
Other information and terms relating to the further amount of stock are contained in an Information Memorandum for Issues of British Government Stock which is available from the Bank of England, Registrar's Department, New Issues, Southgate House, Southgate Street, Gloucester, GL1 1UW (telephone +44 (0)1452 398123; fax +44 (0)1452 398449).
Following this issue, the amount outstanding of this stock is £2,500 million.
