Treasury 4% 2031 Gilt Launch
Applications closed
Important Information - The value of investments will fall as well as rise, so you could get back less than you invest. Investing in gilts may not be suitable for all investors. You should carefully consider your investment objectives, financial situation, and risk tolerance before investing. It is recommended that you seek financial advice tailored to your specific circumstances if you are at all unsure.
The information on this website is provided for informational purposes only and does not constitute financial advice or an offer to sell or a solicitation to buy any securities. The information is believed to be accurate at the time it is posted, but we cannot guarantee its accuracy or completeness. We disclaim any liability for any errors or omissions in the information.
Allocations announced 28 February 2024
Pricing and Allocations
Unlike corporate bond new issues, gilts are not launched at £100 per bond (or £1 per unit). The price is determined during a competitive auction process managed by the Debt Management Office (DMO) on behalf of HM Treasury. The average price and allocation you receive will be confirmed via Secure Message on Wednesday 28 February.
When will I receive my units?
Your new units will be credited to your account on Thursday 29 February. This may be delayed in the event the market counterparty does not deliver your units to us by this time.
How will the price be determined?
The price paid per unit was the average accepted price during the auction.
Interest and Maturity
Interest on the gilt will be payable half-yearly on 22 April and 22 October. Interest will accrue from 29 February 2024, the first issue date of the gilt, and the first interest payment will be due on 22 October 2024 at the rate of £2.579235 per £100 nominal of the gilt.
4% Treasury gilt 2031 will be repaid at par on 22 October 2031.
Launch details
Investing in the Treasury 4% 2031 gilt launch isn’t right for everyone. You should only invest if the gilt’s terms align with your own investment objectives, and there’s a specific need for this type of investment within your portfolio.
It’s also important not to put all your eggs in one basket. Spreading your money, diversifying, gives you access to more opportunities and can reduce risk by investing in more individual areas or markets. Find out more about diversification.
Investors should not purchase any securities referred to in this announcement except on the basis of information contained in the prospectus.
If you are in any doubt about the contents of this page or the prospectus, you should consult your accountant, legal or professional adviser or financial adviser.
This announcement has been prepared by and is the sole responsibility of Hargreaves Lansdown Asset Management of 1 College Square South, Anchor Road, Bristol, BS1 5HL which is an authorised person for the purposes of the Financial Services and Markets Act 2000.
- Open to UK investors located and resident in the UK
- Minimum application of £1,000, increments of £100
- The price will be confirmed after applications close
- Applications with HL close at 4pm on 27 February 2024
- No charge to apply through HL
- It’s free to hold gilts in the HL Fund and Share Account
- Or apply in our ISA and SIPP with low annual charges. More on our charges.
The following charges are based on an investment of £5,000 within a Stocks and Shares ISA over 5 years assuming 0% growth rate. Holders should also get income from the gilt, on which there's no charge from HL and so isn't included in these figures. The income you’ll receive isn't guaranteed and you could get back less than you invest.
£122.98
£0.00
The following charges are based on an investment of £5,000 within a Stocks and Shares ISA over 5 years assuming a 0% growth rate.
| Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Total | ||
|---|---|---|---|---|---|---|---|
| HL Charges | £22.41 | £22.31 | £22.21 | £22.11 | £33.95 | £122.98 | |
| HL management charge | 0.45% | £22.41 | £22.31 | £22.21 | £22.11 | £22.00 | £111.03 |
| Exit dealing charges | £0.00 | £0.00 | £0.00 | £0.00 | £11.95 | £11.95 | |
| Investment charges | £0.00 | £0.00 | £0.00 | £0.00 | £0.00 | £0.00 | |
| Net initial charge | 0% | £0.00 | £0.00 | £0.00 | £0.00 | £0.00 | £0.00 |
| Ongoing charge | 0% | £0.00 | £0.00 | £0.00 | £0.00 | £0.00 | £0.00 |
| Transaction costs | £0.00 | £0.00 | £0.00 | £0.00 | £0.00 | £0.00 | |
| Incidental charges | £0.00 | £0.00 | £0.00 | £0.00 | £0.00 | £0.00 | |
| Total charges over 5 years | £22.41 | £22.31 | £22.21 | £22.11 | £33.95 | £122.98 | |
| Average annual charge | 0.45% | 0.45% | 0.45% | 0.45% | 0.69% | 0.50% | |
| Illustrative 5 year value | £4,977.59 | £4,955.29 | £4,933.08 | £4,910.97 | £4,877.01 | £4,877.01 | |
| Illustrative 5 year value with no charges applied | £5,000.00 | £5,000.00 | £5,000.00 | £5,000.00 | £5,000.00 | £5,000.00 |
The costs and charges shown are for illustration purposes only based on the assumptions presented. Please refer to our Tariff of charges before investing. Returns are not guaranteed.
Total HL charges and 5 Year HL charges also include an £11.95 exit dealing charge.
Figures may not add up to the given total due to rounding.
Expected timetable
| Applications Close: | 4pm - 27 February 2024 |
| Allocations and Price Confirmed: | 28 February 2024 |
| Admission: | 29 February 2024 |
This is the expected timetable. Applications may close early without warning.
Key documents
View UK DMO Information Memorandum
The publication of the prospectus on our website is not an endorsement of the Treasury 4% 2031 gilt launch. Hargreaves Lansdown has not authorised or approved the prospectus, as such we are unable to guarantee its accuracy. We are using the prospectus with the consent of the Treasury.
What happens after you apply?
- You can view your application in the Pending Orders tab of your online account
- You can cancel your application at any time up to the point when the offer closes
- Once allocations are confirmed, your units will show in your portfolio
- You will receive confirmation of your allocation by secure message or in the post
- You'll be able to buy and sell the Treasury 4% 2031 gilt units once they are listed on the exchange