Gilt coupon calendar

A conventional gilt pays the same fixed interest twice a year for its whole life, so the amount you see is exactly what it will pay. An index-linked gilt works differently: its interest rises with inflation, so the figure on the page is today's value of that payment rather than a promise about the future.

That figure is worked out from inflation that has already been published. If prices rise further between now and the payment date, the coupon rises with them — which is the point of an index-linked gilt, and also why these amounts are marked est.

A redemption is different again: it is the £100 face value of each gilt returned when it matures, not income, so it is listed beside the final coupon rather than added to it.