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Bank of England names bookrunners for dollar bond sale

BY Reuters | ECONOMIC | 07:52 AM EST

LONDON, Feb 9 (Reuters) - The Bank of England named RBC Capital Markets, BMO Capital Markets, ?HSBC and Morgan Stanley (MS) ?on Monday as joint lead ?managers for an ?upcoming ?sale of a three-year U.S. dollar ?bond.

"The operation ?will be a benchmark 3-year U.S. ?dollar bond, and ?the ?Bank expects to execute this transaction in the ?near future, subject to market conditions," the BoE said in a market notice.

The BoE uses ?bond ?sales as a way to raise foreign ?currency reserves and said in September that it would shift to targeting two benchmark issuances each year to ?gradually expand the size of the programme. (Reporting by David Milliken; ?editing by William James)

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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