Margins mostly varied within a range of -9bps to +26bps on the day, with 11 falls and 31 rises. Ignoring short-dated securities, the margins of Latitude Capital Notes (LFSPA, +63bps) and Judo Capital Notes (JDOPA, +31bps) had the largest (absolute) changes on the day.
ASX-LISTED HYBRIDS
| COMPANY | CODE | HYBRID TYPE | MATURITY/ CALL DATE | MARGIN INCL. CREDITS | TRADING MARGIN | DAY CHANGE | PRICE (LAST) | RUNNING YIELD** |
|---|---|---|---|---|---|---|---|---|
| Bank of Queensland | BOQPE | Capital Notes | 15-Aug-24 | 3.75% | 3.04% | 0.66% | 101.63 | 8.22% |
| Macquarie Group | MQGPC | Capital Notes 3 | 16-Dec-24 | 4.00% | 0.80% | 0.00% | 102.06 | 8.36% |
| ANZ Banking Group | AN3PH | Capital Notes 5 | 20-Mar-25 | 3.80% | -0.01% | 0.33% | 103.15 | 8.07% |
| CBA | CBAPG | PERLS 10 | 15-Apr-25 | 3.40% | 1.13% | 0.69% | 102.51 | 7.74% |
| Westpac | WBCPH | Capital Notes 5 | 22-Sep-25 | 3.20% | 1.16% | 0.10% | 103.03 | 7.49% |
| AMP Group | AMPPB | Capital Notes 2 | 16-Dec-25 | 4.50% | 1.58% | 0.01% | 104.84 | 8.63% |
| Macquarie Bank | MBLPC | Capital Notes 2 | 22-Dec-25 | 4.70% | 1.37% | 0.27% | 105.30 | 8.77% |
| Challenger | CGFPC | Capital Notes 3 | 25-May-26 | 4.60% | 2.17% | 0.01% | 105.71 | 8.70% |
| Nat Aust Bank | NABPF | Capital Notes 3 | 17-Jun-26 | 4.00% | 1.64% | 0.08% | 105.14 | 8.12% |
| Suncorp | SUNPH | Capital Notes 3 | 17-Jun-26 | 3.00% | 1.92% | 0.23% | 102.82 | 7.32% |
| Macquarie Group | MQGPD | Capital Notes 4 | 10-Sep-26 | 4.15% | 1.73% | 0.13% | 105.70 | 8.22% |
| CBA | CBAPJ | PERLS 13 | 20-Oct-26 | 2.75% | 1.38% | 0.03% | 103.70 | 7.01% |
| Latitude | LFSPA | Capital Notes | 27-Oct-26 | 4.75% | 6.62% | 0.63% | 96.90 | 9.51% |
| Westpac | WBCPJ | Capital Notes 7 | 22-Mar-27 | 3.40% | 1.55% | 0.18% | 105.19 | 7.53% |
| CBA | CBAPI | PERLS 12 | 20-Apr-27 | 3.00% | 1.71% | 0.24% | 104.09 | 7.23% |
| Bank of Queensland | BOQPF | Capital Notes 2 | 14-May-27 | 3.80% | 2.04% | -0.09% | 106.10 | 7.91% |
| Bendigo Bank | BENPH | Capital Notes | 15-Jun-27 | 3.80% | 1.88% | 0.02% | 105.88 | 7.87% |
| Macquarie Group | MQGPE | Capital Notes 5 | 20-Sep-27 | 2.90% | 1.80% | -0.12% | 103.84 | 7.14% |
| Nat Aust Bank | NABPH | Capital Notes 5 | 17-Dec-27 | 3.50% | 1.85% | 0.20% | 105.79 | 7.59% |
| ANZ Bank | AN3PI | Capital Notes 6 | 20-Mar-28 | 3.00% | 1.66% | 0.26% | 104.91 | 7.16% |
| CBA | CBAPL | PERLS 15 | 15-Jun-28 | 2.85% | 1.91% | -0.01% | 104.05 | 7.09% |
| Suncorp | SUNPI | Capital Notes 4 | 17-Jun-28 | 2.90% | 1.91% | 0.04% | 104.23 | 7.12% |
| Westpac | WBCPL | Capital Notes 9 | 22-Sep-28 | 3.40% | 1.78% | -0.11% | 106.42 | 7.44% |
| Macquarie Bank | MBLPD | Capital Notes 3 | 7-Dec-28 | 2.90% | 2.07% | 0.06% | 104.05 | 7.14% |
| Bank of Queensland | BOQPG | Capital Notes 3 | 15-Dec-28 | 3.40% | 2.37% | -0.07% | 104.75 | 7.57% |
| Judo Capital | JDOPA | Capital Notes | 16-Feb-29 | 6.50% | 4.90% | 0.31% | 108.00 | 10.36% |
| ANZ Bank | AN3PJ | Capital Notes 7 | 20-Mar-29 | 2.70% | 2.11% | 0.05% | 103.06 | 6.99% |
| Challenger | CGFPD | Capital Notes 4 | 25-May-29 | 3.60% | 2.56% | 0.10% | 105.55 | 7.74% |
| CBA | CBAPK | PERLS 14 | 15-Jun-29 | 2.75% | 1.99% | 0.14% | 104.01 | 6.99% |
| IAG | IAGPE | Capital Notes 2 | 15-Jun-29 | 3.50% | 2.46% | 0.04% | 105.05 | 7.64% |
| Macquarie Group | MQGPF | Capital Notes 6 | 12-Sep-29 | 3.70% | 2.33% | -0.02% | 106.55 | 7.73% |
| Nat Aust Bank | NABPI | Capital Notes 6 | 17-Sep-29 | 3.15% | 2.05% | 0.17% | 105.50 | 7.28% |
| Westpac | WBCPK | Capital Notes 8 | 21-Sep-29 | 2.90% | 2.09% | 0.03% | 104.25 | 7.11% |
| ANZ Bank | AN3PK | Capital Notes 8 | 20-Mar-30 | 2.75% | 2.18% | -0.19% | 103.39 | 7.02% |
| CBA | CBAPM | PERLS 16 | 17-Jun-30 | 3.00% | 2.24% | -0.07% | 104.53 | 7.20% |
| Suncorp | SUNPJ | Capital Notes 5 | 17-Jun-30 | 2.80% | 2.51% | -0.01% | 103.16 | 7.15% |
| Nat Aust Bank | NABPJ | Capital Notes 7 | 17-Sep-30 | 2.80% | 2.29% | -0.02% | 103.50 | 7.08% |
| Bendigo Bank | BENPI | Capital Notes 2 | 13-Dec-30 | 3.20% | 2.38% | 0.06% | 105.09 | 7.36% |
| IAG | IAGPF | Capital Notes 3 | 15-Dec-30 | 3.20% | 2.82% | 0.00% | 102.79 | 7.50% |
| ANZ Bank | AN3PL | Capital Notes 9 | 20-Mar-31 | 2.90% | 2.45% | 0.02% | 103.20 | 7.18% |
| Westpac | WBCPM | Capital Notes 10 | 22-Sep-31 | 3.10% | 2.36% | 0.02% | 104.80 | 7.27% |
| Nat Aust Bank | NABPK | Capital Notes 8 | 17-Mar-32 | 2.60% | 2.57% | 0.00% | 101.59 | 7.02% |
ASX-LISTED HYBRIDS (NON-STANDARD)
| COMPANY | CODE | HYBRID TYPE | MATURITY/ CALL DATE | MARGIN INCL. CREDITS | TRADING MARGIN | DAY CHANGE | PRICE (LAST) | RUNNING YIELD** |
|---|---|---|---|---|---|---|---|---|
| Nufarm | NFNG | Step Up | Perpetual | 3.90% | 5.21% | 0.04% | 91.80 | 9.68% |
| Ramsay Health Care | RHCPA | Preference Share | Perpetual | 4.85% | 4.88% | 0.03% | 105.25 | 9.35% |
** “Clean” running yield. Includes franking credits if present.