As previously announced on 21 February 2012, the Joint Lead Managers for this issue are BofA Merrill Lynch, Goldman Sachs International, HSBC and Morgan Stanley.
The Co-Lead Managers for this issue are Barclays Capital, BNP Paribas, Citigroup, Credit Suisse, Deutsche Bank, J.P. Morgan, RBC Capital Markets, The Royal Bank of Scotland and UBS Investment Bank.
This is the sixth operation under the Bank’s annual programme to finance its foreign currency reserves; previous 3-year dollar bonds were issued in March 2007, March 2008, March 2009, March 2010 and February 2011.
Please direct any questions on Bank of England foreign currency reserves and their financing to the Bank’s Press Office on + 44 (0)20 7601 4411 or, alternatively, email firstname.lastname@example.org.
As part of the monetary policy framework introduced by the Chancellor of the Exchequer in 1997, the Bank of England holds its own foreign exchange reserves in support of its monetary policy objective. These reserves are separate from the Government’s own foreign exchange reserves, which the Bank manages as the Treasury’s agent.
On 15 December 2006 the Bank of England announced that its foreign exchange reserves will be financed by issuing medium-term securities on an annual basis, with a regular timetable, a high degree of transparency and a group of banks to market and distribute each issue.
The new securities are being issued under a Trust Deed governed by English Law and incorporate collective action clauses (CACs) based upon the recommendations put forward by the G10 Working Group on Contractual Clauses in 2003.
This market notice is being issued in reliance on Rule 135e of the United States Securities Act of 1933, as amended (the “Securities Act”). This market notice is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from registration. Any public offering of the securities to be made in the United States will be made by means of a prospectus that may be obtained from the Bank of England.
Statements about the Bank of England and all other statements in this market notice other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act, Section 21E of the United States Securities Exchange Act of 1934, as amended, and as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time. The Bank of England undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances.
In the United Kingdom, this announcement is directed only at persons who (i) have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended, (the "Financial Promotion Order"), (ii) are persons falling within Article 49(2)(a) to (d) ("high net worth companies, unincorporated associations etc.") of the Financial Promotion Order, or (iii) are persons to whom an invitation or inducement to engage in investment activity (within the meaning of Section 21 of the Financial Services and Markets Act 2000) in connection with the issue or sale of any Notes may otherwise lawfully be communicated or caused to be communicated (all such persons together being referred to as "relevant persons"). If you are in the United Kingdom and you are not a relevant person, any investment or investment activity to which this announcement relates is not available to you, and will not be engaged in with you, and you should not act upon, or rely on, this announcement.
Prospective investors are referred to the prospectus dated 21 February 2012 published by the Bank of England relating to the Notes and available on its website (the “Prospectus”). No investment activity or investment decision relating to the Notes should be undertaken on the basis of or relying upon any information other than that contained in the Prospectus.