diff --git a/lib/lrama/grammar/parameterizing_rule/rhs.rb b/lib/lrama/grammar/parameterizing_rule/rhs.rb
index e0e2ee85..3eb92f8e 100644
--- a/lib/lrama/grammar/parameterizing_rule/rhs.rb
+++ b/lib/lrama/grammar/parameterizing_rule/rhs.rb
@@ -13,14 +13,23 @@ def initialize
         def resolve_user_code(bindings)
           return unless user_code
 
-          code = user_code.s_value
+          var_to_arg = {}
           symbols.each do |sym|
             resolved_sym = bindings.resolve_symbol(sym)
             if resolved_sym != sym
-              code = code.gsub(/\$#{sym.s_value}/, "$#{resolved_sym.s_value}")
+              var_to_arg[sym.s_value] = resolved_sym.s_value
             end
           end
-          Lrama::Lexer::Token::UserCode.new(s_value: code, location: user_code.location)
+
+          var_to_arg.each do |var, arg|
+            user_code.references.each do |ref|
+              if ref.name == var
+                ref.name = arg
+              end
+            end
+          end
+
+          return user_code
         end
       end
     end
diff --git a/spec/fixtures/parameterizing_rules/user_defined/with_action_and_named_references.y b/spec/fixtures/parameterizing_rules/user_defined/with_action_and_named_references.y
index 5b041c05..85ae0d5c 100644
--- a/spec/fixtures/parameterizing_rules/user_defined/with_action_and_named_references.y
+++ b/spec/fixtures/parameterizing_rules/user_defined/with_action_and_named_references.y
@@ -16,7 +16,7 @@ static int yyerror(YYLTYPE *loc, const char *str);
 %token <i> number
 %token <s> string
 
-%rule pair(X, Y): X ',' Y { printf("(%d, %d)\n", $X, $2); }
+%rule pair(X, Y): X ',' Y { printf("(%d, %d)\n", $X, $3); }
                 ;
 
 %%
diff --git a/spec/lrama/parser_spec.rb b/spec/lrama/parser_spec.rb
index 861f49fa..2fddc68b 100644
--- a/spec/lrama/parser_spec.rb
+++ b/spec/lrama/parser_spec.rb
@@ -1719,7 +1719,7 @@
                     grammar.find_symbol_by_s_value!("string")
                   ],
                   lhs_tag: nil,
-                  token_code: T::UserCode.new(s_value: " printf(\"(%d, %d)\\n\", $number, $2); "),
+                  token_code: T::UserCode.new(s_value: " printf(\"(%d, %d)\\n\", $X, $3); "),
                   nullable: false,
                   precedence_sym: grammar.find_symbol_by_s_value!("string"),
                   lineno: 24,