what do these mean?????


P

paulines pens

hi all,
would appreciate any pointers hear...
i've recently had the grim task of clearing out my grandparents house and
have un-earthed 3 bank of england stock certificates a treasury stock (3%) ,
conversion stock (3.5%) and aconsolidated stock (4%) each have a combined
face value of £30k.
there's no contact numbers or address on the papers so i'm unable to find
out what they are??
they have account numbers and are all in my late grandfathers name.is
anybody familiar on these matters

many thanks
fp.
 
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J

john boyle

paulines said:
hi all,
would appreciate any pointers hear...
i've recently had the grim task of clearing out my grandparents house and
have un-earthed 3 bank of england stock certificates a treasury stock (3%) ,
conversion stock (3.5%) and aconsolidated stock (4%) each have a combined
face value of £30k.
there's no contact numbers or address on the papers so i'm unable to find
out what they are??
they have account numbers and are all in my late grandfathers name.is
anybody familiar on these matters
They are UK Government Stock Certificates, sometimes known as 'gilts'
which is shortly for 'gilt edged securities'. They represent loans to
the government. The amount on the certificate says how much the Govt
owes the holder. Many Gilts have a set repayment date, but the ones you
have found do not, which is why they are called 'undated' gilts. This
means they are unlikely to be redeemed, ever. The only way to get rid is
to sell them on the stock market.

The Government pays the holder interest. The rate of interest paid is
the rate shown on the certificate and is the rate you have quoted above.
So, for example, if you have £10,000 printed on the front of the 4%
Consols, then you will get £400 per year (gross). The snag is that the
price you will get for the stock on the market is related to current
interest rates. If rates are lower than printed on the front of the
certificate then the certificates will be worth more than the face
value. But if interest rates are higher than the rate printed on the
front (which they are now) then the certs will be worth less than the
face value.

According to the FT today, they 3% Treasury are worth about 73% of the
face value, the 3.5% Convertibles about 91% and the 4% Consols about
93%.

Gilts used to be managed and the register of holders maintained by the
Bank of England but now it is done by Computershare,
www.computershare.com.

see

https://www-uk.computershare.com/investor/gilts/default.asp?cc=uk&lang=en
&bhjs=1&fla=1&theme=cpu

To sell I suggest you approach a stockbroker.
 
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P

Peter Lawrence

hi all,
would appreciate any pointers hear...
i've recently had the grim task of clearing out my grandparents house and
have un-earthed 3 bank of england stock certificates a treasury stock (3%) ,
conversion stock (3.5%) and aconsolidated stock (4%) each have a combined
face value of £30k.
there's no contact numbers or address on the papers so i'm unable to find
out what they are??
they have account numbers and are all in my late grandfathers name.is
anybody familiar on these matters
Like they say they are Bank of England, ie Government/gilt edged,
stock.

This is now managed, having been privatised, by
Computershare Investor Services PLC
P.O. Box 2411
The Pavilions
Bridgwater Road
Bristol BS3 9WX

General Queries Helpline: 0870 703 0143
Request for Private Investor Guide: 0800 376 9232
Fax: 0870 703 0352
Website: http://www.computershare.com


(The web site is not very helpful but try FAQs - Gilts.)

HTH
 

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