T32 is an index-linked gilt, an inflation linked UK government bond that pays two cash payments per year. The value of the cash payment is variable as it takes into account the accrued inflation since T32 was first issued on 29-Oct-2008. The current real yield of T32 is 1.271%, where real yield is a measure of the expected return above inflation if T32 is held until the maturity date of 22-Nov-2032. A full list of all index-linked gilts currently in issue, along with their real yields, can be found on the index-linked gilt price and yields page.