Retail Capital Bonds plc 3.500% 2033 Gilt
Live yield & returns · Last updated 2026-05-31T17:09:53.966977+00:00 · Capital at risk
5.67%
4.03%
£86.88
8 December 2033
The Retail Capital Bonds plc 3.500% 2033 is a corporate bond with a 3.500% coupon, maturing on 8 Dec 2033 — roughly 7.5 years from now. At the latest market price it is a medium-dated (5–15 years) holding currently trading below par (at a discount).
Based on a clean price of about £86.88 per £100 nominal, this gilt offers a running yield of 4.03% and a yield to maturity of 5.67%. The running yield reflects the income return from coupons alone, while the yield to maturity also accounts for the capital gain if you hold to redemption.
Because capital gains on gilts are exempt from UK Capital Gains Tax, a gilt priced below par can be particularly tax-efficient: the pull-to-par capital gain is tax-free, and only the coupon income is taxable. The calculator below shows both gross and net (after-tax) returns.
Worked example: a £10,000.00 investment
Held to maturity, assuming 20% tax on coupon income (capital gains on gilts are tax-free):
| Units purchased | 115 |
| Amount invested | £9,990.63 |
| Total coupon income | £3,029.49 |
| Capital gain / loss | £1,479.18 |
| Total profit (gross) | £4,508.68 |
| Total profit (after tax) | £3,902.78 |
| Annualised return (gross) | 6.00% |
| Annualised return (net) | 5.19% |
Estimates for illustration only. Not financial advice.
Similar gilts
| Gilt | YTM | Maturity |
|---|---|---|
| GlaxoSmithKline Capital 5.250% 2033 | 4.83% | 19 December 2033 |
| HSBC Bank plc 5.375% 2033 | 5.22% | 22 August 2033 |
| GE Capital 5.875% 2033 | 5.14% | 18 January 2033 |
| B.A.T. International Finance 6.000% 2034 | 5.51% | 24 November 2034 |
Frequently asked questions
What is the yield on the Retail Capital Bonds plc 3.500% 2033 gilt?
Based on the latest market price, the Retail Capital Bonds plc 3.500% 2033 has a yield to maturity of 5.67% and a running (income) yield of 4.03%. Yields move daily with the gilt's market price.
When does the Retail Capital Bonds plc 3.500% 2033 gilt mature?
This gilt matures on 8 Dec 2033, approximately 7.5 years from today. At maturity holders receive the £100 nominal value per unit.
Are returns on the Retail Capital Bonds plc 3.500% 2033 taxed?
Capital gains on UK gilts are exempt from Capital Gains Tax. Coupon income is taxable as income, though it can be sheltered within an ISA or SIPP. This page shows both gross and after-tax figures.
How much would a £10,000 investment in the Retail Capital Bonds plc 3.500% 2033 return?
A £10,000 investment would buy approximately 115 units and, held to maturity, is projected to return a total profit of about £4,508.68 (gross). See the worked example on this page for the full breakdown.