5 Sep – 9 Sep 2016

Share on LinkedInTweet about this on TwitterEmail this to someonePrint this page

ASX-listed hybrids

This week the median trading margin for hybrids fell 9bps from 4.09% to 4.00%. Hybrids which had the largest trading margin falls include ANZ Capital Notes (ASX code: ANZPD, -32bps), Commonwealth Bank (ASX code: CBAPE, -23bps) and Bendigo CPS 3 (ASX code: BENPF, -18bps). Suncorp CPS 2 (ASX code: SUNPC, +48bps) had the largest rise.

As readers can see from the chart below, there is very little in the way of yield anomalies this week.

160909-asx-notes-chart

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%4.53%0.05%104.006.26%
ANZ Banking GroupANZPAMCPS Basel216-Dec-163.10%2.45%-0.64%100.054.18%
ANZ Banking GroupANZPCMCPS Basel328-Sep-173.10%2.63%-0.02%100.514.57%
ANZ Banking GroupANZPDMCPS Basel31-Sep-213.40%3.90%-0.32%97.955.84%
ANZ Banking GroupANZPECapital Note Basel324-Mar-223.25%4.25%-0.02%97.756.19%
ANZ Banking GroupANZPFCapital Note Basel324-Mar-233.60%4.41%0.03%98.256.35%
Bendigo BankBENHBPerpetual21-Oct-541.00%2.70%-0.20%70.004.43%
Bendigo BankBENPDMCPS Basel313-Dec-175.00%3.18%0.20%103.805.12%
Bendigo BankBENPEMCPS Basel330-Nov-203.20%4.41%0.00%96.996.35%
Bendigo BankBENPFMCPS Basel315-Jun-214.00%4.46%-0.18%99.506.40%
Bank Of QueenslandBOQPDMCPS Basel315-Apr-185.10%3.65%0.07%105.005.59%
CBA PERLS 6CBAPCMCPS Basel315-Dec-183.80%3.04%-0.05%101.504.77%
CBA PERLS 7CBAPDMCPS Basel315-Dec-222.80%4.44%0.00%91.506.17%
CBA PERLS 8CBAPEMCPS Basel315-Oct-215.20%4.00%-0.23%105.055.73%
ChallengerCGFPACapital Note25-May-203.40%4.29%0.11%97.256.02%
Insurance Aust.IAGPCMCPS Basel31-May-174.00%3.16%0.71%102.605.10%
Insurance Aust. (NZ) RESIANGReset Preference16-Dec-194.00%3.64%0.10%100.955.37%
Macquarie BankMBLHBIncome SecuritesPerpetual1.70%4.03%-0.01%66.005.76%
Macquarie BankMBLPACapital Note Basel324-Mar-213.30%4.01%-0.08%99.605.95%
Macquarie GroupMQGPACapital Note Basel37-Jun-194.00%3.53%0.00%102.395.47%
Macquarie GroupMQGPBCapital Note Basel317-Mar-225.15%4.56%-0.15%102.496.50%
Multiplex SITESMXUPAPerp'l PreferencePerpetual3.90%6.43%0.06%72.308.16%
Nat Aust BankNABHAIncome SecuritiesPerpetual1.25%3.32%0.05%66.505.05%
Nat Aust BankNABPAMCPS Basel320-Mar-193.20%3.43%0.02%99.285.16%
Nat Aust BankNABPBMCPS Basel317-Dec-203.25%4.01%0.22%97.005.74%
Nat Aust BankNABPCCapital Note Basel323-Mar-203.50%3.95%0.04%99.685.68%
Nat Aust BankNABPDCapital Note Basel37-Jul-204.95%4.42%-0.08%103.706.15%
NufarmNFNGStep UpPerpetual3.90%5.07%0.02%87.047.01%
PaperlinxPXUPAPerp'l Preference30-Jun-528.80%0.00%9.5010.74%
Ramsay Health CareRHCPAPerp'l PreferencePerpetual4.85%4.76%0.00%103.906.70%
Suncorp-MetwaySBKHBIncome SecurityPerpetual0.75%2.05%-0.03%74.763.78%
SuncorpSUNPCMCPS Basel317-Dec-174.65%2.58%0.48%102.344.31%
SuncorpSUNPEMCPS Basel317-Jun-203.40%3.74%0.11%98.725.47%
Seven Network TELYS 4SVWPAPerp'l Preference2-Dec-544.75%9.46%0.37%68.2211.40%
WestpacWBCPCMCPS Basel331-Mar-183.25%2.76%-0.16%103.004.70%
WestpacWBCPDMCPS Basel38-Mar-193.20%3.41%0.32%99.505.14%
WestpacWBCPEMCPS Basel322-Sep-223.05%4.42%0.26%94.216.15%
WestpacWBCPFCapital Note Basel322-Mar-214.00%4.19%-0.02%100.465.92%
WestpacWBCPGCapital Note Basel320-Dec-214.90%4.45%0.03%103.306.18%
** 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