29 Aug – 2 Sep 2016

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ASX-listed hybrids

This week the median trading margin for hybrids retraced last week’s fall and rose 6bps from 4.03% to 4.09%. ANZ CPS 3 (ASX code: ANZPC, +86bps) while Westpac Capital Notes 4 (ASX code: WBCPD, -49bps) had the largest trading margin fall.

160903 ASX listed hybrids

ASX LISTED HYBRIDS

COMPANYCODEHYBRID
TYPE
MATURITY
OR STEP-UP
DATE
MARGIN
INC FRANK
TRADING
MARGIN
∆ WEEKWEEK
CLOSE
YTM
Est**
AMP Capital NotesAMPPACapital Note Basel322-Dec-215.10%4.48%0.06%104.106.21%
ANZ Banking GroupANZPAMCPS Basel216-Dec-163.10%3.10%0.28%99.804.83%
ANZ Banking GroupANZPCMCPS Basel328-Sep-173.10%2.66%0.86%100.404.59%
ANZ Banking GroupANZPDMCPS Basel31-Sep-213.40%4.22%0.34%96.506.15%
ANZ Banking GroupANZPECapital Note Basel324-Mar-223.25%4.27%-0.07%97.536.20%
ANZ Banking GroupANZPFCapital Note Basel324-Mar-233.60%4.39%-0.14%98.256.32%
Bendigo BankBENHBPerpetual21-Oct-541.00%2.90%0.00%67.004.63%
Bendigo BankBENPDMCPS Basel313-Dec-175.00%2.98%0.08%103.954.91%
Bendigo BankBENPEMCPS Basel330-Nov-203.20%4.40%0.09%96.886.33%
Bendigo BankBENPFMCPS Basel315-Jun-214.00%4.64%0.15%98.656.57%
Bank Of QueenslandBOQPDMCPS Basel315-Apr-185.10%3.57%-0.08%105.005.50%
CBA PERLS 6CBAPCMCPS Basel315-Dec-183.80%3.09%0.14%102.704.82%
CBA PERLS 7CBAPDMCPS Basel315-Dec-222.80%4.45%0.04%92.506.18%
CBA PERLS 8CBAPEMCPS Basel315-Oct-215.20%4.23%0.11%105.655.96%
ChallengerCGFPACapital Note25-May-203.40%4.18%-0.07%97.505.91%
Insurance Aust.IAGPCMCPS Basel31-May-174.00%2.45%0.21%102.954.38%
Insurance Aust. (NZ) RESIANGReset Preference16-Dec-194.00%3.54%0.10%102.605.27%
Macquarie BankMBLHBIncome SecuritesPerpetual1.70%4.04%0.01%65.505.77%
Macquarie BankMBLPACapital Note Basel324-Mar-213.30%4.09%0.01%99.186.02%
Macquarie GroupMQGPACapital Note Basel37-Jun-194.00%3.54%0.32%102.275.47%
Macquarie GroupMQGPBCapital Note Basel317-Mar-225.15%4.71%0.15%105.286.64%
Multiplex SITESMXUPAPerp'l PreferencePerpetual3.90%6.37%-0.03%72.408.10%
Nat Aust BankNABHAIncome SecuritiesPerpetual1.25%3.27%-0.08%66.625.00%
Nat Aust BankNABPAMCPS Basel320-Mar-193.20%3.41%-0.15%99.245.14%
Nat Aust BankNABPBMCPS Basel317-Dec-203.25%3.79%-0.17%97.705.52%
Nat Aust BankNABPCCapital Note Basel323-Mar-203.50%3.90%-0.13%99.715.63%
Nat Aust BankNABPDCapital Note Basel37-Jul-204.95%4.50%0.07%103.216.23%
NufarmNFNGStep UpPerpetual3.90%5.05%0.10%87.016.98%
PaperlinxPXUPAPerp'l Preference30-Jun-528.80%0.00%9.5010.73%
Ramsay Health CareRHCPAPerp'l PreferencePerpetual4.85%4.76%-0.01%103.716.69%
Suncorp-MetwaySBKHBIncome SecurityPerpetual0.75%2.08%0.02%74.003.81%
SuncorpSUNPCMCPS Basel317-Dec-174.65%2.11%-0.01%104.503.84%
SuncorpSUNPEMCPS Basel317-Jun-203.40%3.63%-0.04%99.005.36%
Seven Network TELYS 4SVWPAPerp'l Preference2-Dec-544.75%9.09%0.28%69.8011.02%
WestpacWBCPCMCPS Basel331-Mar-183.25%2.92%0.29%102.664.85%
WestpacWBCPDMCPS Basel38-Mar-193.20%3.09%-0.49%100.154.82%
WestpacWBCPEMCPS Basel322-Sep-223.05%4.16%0.05%95.345.89%
WestpacWBCPFCapital Note Basel322-Mar-214.00%4.22%-0.09%100.255.95%
WestpacWBCPGCapital Note Basel320-Dec-214.90%4.42%-0.04%103.306.15%
** YTM for floating rate securities is an estimate using current interest rates. This will vary if rates change.
Source: Evans & Partners. Dealing Contact Michael Saba +61 3 9631 9813