Retail Prices Index (RPI)

An index published each month by the Office for National Statistics, which measures the level of retail prices in the UK. Cash flows on all index-linked gilts are linked to the RPI.

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Zero-Sum Game

A situation in which one person's gain is another's loss.
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Earnings per share

We look at what earnings per share mean and how to calculate it
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Nominal amount

The face value of a gilt. It represents the amount that will be repaid to the holder at maturity and is also used to calculate the dividend or coupon payment.
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American Depository Receipts (ADRs)

Tradeable assets that let Americans invest in overseas stocks using US laws and dollars.
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After-hours trading

Trading outside of a stock exchange's opening hours.
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Depository

We look at what is a depository and what role they play in keeping markets work.
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Running yield

The annual interest payment (dividend) divided by the current market price of a bond.
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Gross Margin

The difference between a company's revenue and the cost to produce its goods/services, divided by revenue.
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Packaged Retail and Insurance-based Investment Product (PRIIP)

An investment where, regardless of its legal form, the amount repayable to the retail investor is subject to fluctuations.
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