AUSTRALIAN HYBRIDS
ANZ Bank’s AN3PH (Capital Notes 5) and CBA’s CBAPG (PERLS 10) held steady with slight gains, offering yields of 8.10% and 7.73%, respectively. Challenger’s CGFPC (Capital Notes 3) continued to shine with a notable 1.68% increase in price, yielding 8.80%. AMP Group’s AMPPB (Capital Notes 2) and Macquarie Bank’s MBLPC (Capital Notes 2) saw stable performances, with yields around 8.64% and 8.79%. However, some securities like Suncorp’s SUNPH (Capital Notes 3) and Westpac’s WBCPH (Capital Notes 5) experienced slight declines, reflecting lower weekly changes. Judo Capital’s JDOPA (Capital Notes) stood out, showing a strong 0.43% increase, with a yield of 9.85%. Macquarie Group’s MQGPG (Capital Notes 7) had a minor drop, yielding 6.80%. As market conditions fluctuate, investors continue to monitor the performance of these hybrid securities, focusing on yield and stability.
Nufarm (NFNG) experienced a modest drop of -0.42%, closing at 93.5, while maintaining a solid running yield of 9.01%.
Ramsay Health Care (RHCPA) saw a slight pullback of -0.31%, finishing at 107.79, with a competitive running yield of 8.70%.
ASX-Listed Hybrids
| COMPANY | CODE | HYBRID TYPE | MATURITY/ CALL DATE | MARGIN INCL. CREDITS | TRADING MARGIN | WEEK CHANGE | WEEK CLOSE | RUNNING YIELD** |
|---|---|---|---|---|---|---|---|---|
| ANZ Bank | AN3PH | Capital Notes 5 | 20-Mar-25 | 3.80% | 2.97% | 2.48% | 100.86 | 8.10% |
| CBA | CBAPG | PERLS 10 | 15-Apr-25 | 3.40% | 4.96% | 3.17% | 100.70 | 7.73% |
| Westpac | WBCPH | Capital Notes 5 | 22-Sep-25 | 3.20% | 1.89% | -0.01% | 101.73 | 7.44% |
| AMP Group | AMPPB | Capital Notes 2 | 16-Dec-25 | 4.50% | 2.26% | 0.51% | 103.05 | 8.64% |
| Macquarie Bank | MBLPC | Capital Notes 2 | 22-Dec-25 | 4.70% | 1.88% | -0.29% | 103.40 | 8.79% |
| Challenger | CGFPC | Capital Notes 3 | 25-May-26 | 4.60% | 3.73% | 1.68% | 102.92 | 8.80% |
| Nat Aust Bank | NABPF | Capital Notes 3 | 17-Jun-26 | 4.00% | 1.77% | 0.03% | 104.07 | 8.07% |
| Suncorp | SUNPH | Capital Notes 3 | 17-Jun-26 | 3.00% | 1.73% | -0.29% | 102.70 | 7.18% |
| Macquarie Group | MQGPD | Capital Notes 4 | 10-Sep-26 | 4.15% | 1.88% | 0.12% | 104.62 | 8.17% |
| CBA | CBAPJ | PERLS 13 | 20-Oct-26 | 2.75% | 1.65% | -0.31% | 102.79 | 6.93% |
| Latitude | LFSPA | Capital Notes | 27-Oct-26 | 4.75% | 7.96% | 0.08% | 95.75 | 9.47% |
| Westpac | WBCPJ | Capital Notes 7 | 22-Mar-27 | 3.40% | 2.02% | 0.16% | 103.70 | 7.50% |
| CBA | CBAPI | PERLS 12 | 20-Apr-27 | 3.00% | 2.05% | -0.04% | 103.01 | 7.16% |
| Bank of Queensland | BOQPF | Capital Notes 2 | 14-May-27 | 3.80% | 1.75% | -0.08% | 104.00 | 7.77% |
| Bendigo Bank | BENPH | Capital Notes | 15-Jun-27 | 3.80% | 2.35% | 0.00% | 104.31 | 7.85% |
| Macquarie Group | MQGPE | Capital Notes 5 | 20-Sep-27 | 2.90% | 2.24% | 0.31% | 103.60 | 7.09% |
| Nat Aust Bank | NABPH | Capital Notes 5 | 17-Dec-27 | 3.50% | 2.00% | -0.04% | 104.96 | 7.51% |
| ANZ Bank | AN3PI | Capital Notes 6 | 20-Mar-28 | 3.00% | 1.91% | -0.06% | 103.84 | 7.08% |
| CBA | CBAPL | PERLS 15 | 15-Jun-28 | 2.85% | 2.06% | -0.02% | 103.44 | 6.98% |
| Suncorp | SUNPI | Capital Notes 4 | 17-Jun-28 | 2.90% | 2.05% | -0.16% | 103.59 | 7.02% |
| Westpac | WBCPL | Capital Notes 9 | 22-Sep-28 | 3.40% | 1.96% | 0.03% | 105.50 | 7.37% |
| Macquarie Bank | MBLPD | Capital Notes 3 | 7-Dec-28 | 2.90% | 1.50% | -0.52% | 104.12 | 6.88% |
| Bank of Queensland | BOQPG | Capital Notes 3 | 15-Dec-28 | 3.40% | 1.90% | -0.39% | 106.05 | 7.34% |
| Judo Capital | JDOPA | Capital Notes | 16-Feb-29 | 6.50% | 3.51% | 0.43% | 112.00 | 9.85% |
| ANZ Bank | AN3PJ | Capital Notes 7 | 20-Mar-29 | 2.70% | 1.96% | -0.01% | 103.42 | 6.82% |
| Challenger | CGFPD | Capital Notes 4 | 25-May-29 | 3.60% | 2.64% | 0.40% | 105.10 | 7.63% |
| CBA | CBAPK | PERLS 14 | 15-Jun-29 | 2.75% | 1.95% | -0.23% | 104.02 | 6.85% |
| IAG | IAGPE | Capital Notes 2 | 15-Jun-29 | 3.50% | 2.11% | -0.18% | 105.99 | 7.43% |
| Macquarie Group | MQGPF | Capital Notes 6 | 12-Sep-29 | 3.70% | 1.98% | -0.10% | 107.55 | 7.52% |
| Nat Aust Bank | NABPI | Capital Notes 6 | 17-Sep-29 | 3.15% | 1.97% | -0.25% | 105.60 | 7.13% |
| Westpac | WBCPK | Capital Notes 8 | 21-Sep-29 | 2.90% | 1.88% | -0.27% | 104.87 | 6.93% |
| ANZ Bank | AN3PK | Capital Notes 8 | 20-Mar-30 | 2.75% | 2.03% | -0.15% | 103.85 | 6.84% |
| CBA | CBAPM | PERLS 16 | 17-Jun-30 | 3.00% | 1.98% | -0.18% | 105.50 | 6.99% |
| Suncorp | SUNPJ | Capital Notes 5 | 17-Jun-30 | 2.80% | 2.36% | 0.06% | 103.11 | 6.96% |
| Nat Aust Bank | NABPJ | Capital Notes 7 | 17-Sep-30 | 2.80% | 1.98% | -0.33% | 104.75 | 6.85% |
| Bendigo Bank | BENPi | Capital Notes 2 | 13-Dec-30 | 3.20% | 2.26% | -0.15% | 105.51 | 7.19% |
| Insurance Australia | IAGPF | Capital Notes 3 | 15-Dec-30 | 3.20% | 2.58% | 0.08% | 103.90 | 7.28% |
| ANZ Bank | AN3PL | Capital Notes 9 | 20-Mar-31 | 2.90% | 1.98% | 0.00% | 105.23 | 6.89% |
| Westpac | WBCPM | Capital Notes 10 | 22-Sep-31 | 3.10% | 1.98% | -0.13% | 106.59 | 7.01% |
| Macquarie Group | MQGPG | Capital Notes 7 | 15-Dec-31 | 2.65% | 2.28% | -0.26% | 103.08 | 6.80% |
| Nat Aust Bank | NABPK | Capital Notes 8 | 17-Mar-32 | 2.60% | 1.96% | -0.22% | 104.55 | 6.66% |
ASX-Listed Hybrids (Non-standard)
| COMPANY | CODE | HYBRID TYPE | MATURITY/ CALL DATE | MARGIN INCL. CREDITS | TRADING MARGIN | WEEK CHANGE | WEEK CLOSE | RUNNING YIELD** |
|---|---|---|---|---|---|---|---|---|
| Nufarm | NFNG | Step Up | Perpetual | 3.90% | 4.70% | -0.42% | 93.5 | 9.01% |
| Ramsay Health Care | RHCPA | Preference Share | Perpetual | 4.85% | 4.39% | -0.31% | 107.79 | 8.70% |
** “Clean” running yield. Includes franking credits if present.