1 A description of the method used to construct GEMMA reference prices can be found in the Formulae & Examples section of this website. Clean prices have been rounded to the nearest 2 decimal places since 6 April 1999. A list of UK bank holidays is available in the Formulae & Examples section of this website.
2 For index-linked gilts with a 3-month indexation lag the clean price is the real clean price, while the dirty price is the inflation-adjusted dirty price.
3 For conventional gilts the yield shown is a nominal yield, while for index-linked gilts it is a real yield. For index-linked gilts with an 8-month indexation lag the yield is computed using a 3% inflation assumption, while for index-linked gilts with a 3-month indexation lag a simpler yield formula is used which ignores the lag and so does not depend on an inflation assumption.
4 It is assumed that all double-dated gilts will be redeemed on the first redemption date, irrespective of whether or not they have been called.