News Release
Floating Rate Treasury Stock 2001
07 July 1999
In accordance with the terms of the prospectus for the above stock dated 18 June 1996, the Bank of England announces that the rate of interest per annum to be used to determine the interest payment due on 8 October 1999 is 4.89519%. The amount of interest payable on that date will be £1.2339 per £100 nominal of stock.
The rate of interest per annum for the next interest period, and the amount of interest payable on 10 January 2000, will be announced as soon as practicable after 11.00 am on 7 October 1999.
Note to Editors
The interest amount is calculated by multiplying the annual rate of interest per £100 nominal of stock by the actual number of days in the interest period concerned, dividing by 365 and rounding the resulting figure to the nearest fourth decimal place.
Interest is payable three months after the preceding interest payment date. If any interest payment date falls on a non-business day, it is postponed to the next business day unless it would thereby fall in the next calendar month.
Examples of accrued interest calculations for trading in the secondary market are contained within an Operational Circular (dated 26 November 1998) published by the UK Debt Management Office.
