what do these mean?????

In message , paulines pens writes

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

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

see

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:

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

HTH