Commentary & Deal Flow

IPTs: 12yr: UKTi'37+9.25/9.50bp

• Issuer: United Kingdom
• LEI: ECTRVYYCEF89VWYS6K36
• Rating: Aa3/AA/AA- (Moody's/S&P/Fitch)
• Format: Reg S, Registered Form, Fixed Rate Notes
• Size: £ Benchmark
• Current O/S: £9.75bn
• Maturity: 22-Sep-38
• Expected Settlement Date: 15-Jul-26 (T+1)
• Coupon: 1.75% Semi Annual, ACT/ACT
• Benchmark: UKTi 1.125% 22-Nov-37 (GB00B1L6W962)
• Price Guidance: UKTi 1.125% 22-Nov-37 (GB00B1L6W962) +9.25/+9.50bps
• Denominations: £0.01
• Listing: FCA Official List / London Stock Exchange (Main Market)
• Governing Law: English Law
• Documentation: Issuer’s Stand-Alone Documentation
• Target Market: UK MiFIR Eligible counterparties, Professional clients, and retail clients only (all distribution channels) MIFID II Eligible counterparties and professional clients (all distribution channels)
• ISIN: GB00BMY62Z61
• Joint Leads: Barc (B&D/DM), BNPP, NatWest, Nomura
• Timing: Books open, today’s business