Margins mostly varied within a range of -19bps to +18bps on the day, with 25 falls and 18 rises. Ignoring short-dated securities, the margins of Latitude Capital Notes (LFSPA, -87bps), Suncorp Capital Notes 3 (SUNPH, +41bps) and Macquarie Capital Notes 4 (MQGPD, +35bps) 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** |
|---|---|---|---|---|---|---|---|---|
| Westpac | WBCPI | Capital Notes 6 | 30-Jul-24 | 3.70% | 3.76% | -1.30% | 99.99 | 8.07% |
| Bank of Queensland | BOQPE | Capital Notes | 15-Aug-24 | 3.75% | 0.44% | -0.93% | 101.30 | 8.07% |
| Macquarie Group | MQGPC | Capital Notes 3 | 16-Dec-24 | 4.00% | 1.81% | 0.28% | 101.15 | 8.27% |
| ANZ Banking Group | AN3PH | Capital Notes 5 | 20-Mar-25 | 3.80% | 1.55% | -0.19% | 101.70 | 8.03% |
| CBA | CBAPG | PERLS 10 | 15-Apr-25 | 3.40% | 1.90% | -0.02% | 101.30 | 7.67% |
| Westpac | WBCPH | Capital Notes 5 | 22-Sep-25 | 3.20% | 2.09% | 0.25% | 101.32 | 7.46% |
| AMP Group | AMPPB | Capital Notes 2 | 16-Dec-25 | 4.50% | 2.73% | -0.03% | 102.65 | 8.64% |
| Macquarie Bank | MBLPC | Capital Notes 2 | 22-Dec-25 | 4.70% | 2.46% | 0.25% | 103.25 | 8.78% |
| Challenger | CGFPC | Capital Notes 3 | 25-May-26 | 4.60% | 2.71% | -0.13% | 104.04 | 8.66% |
| Nat Aust Bank | NABPF | Capital Notes 3 | 17-Jun-26 | 4.00% | 2.29% | -0.02% | 103.30 | 8.10% |
| Suncorp | SUNPH | Capital Notes 3 | 17-Jun-26 | 3.00% | 2.55% | 0.41% | 101.02 | 7.29% |
| Macquarie Group | MQGPD | Capital Notes 4 | 10-Sep-26 | 4.15% | 2.44% | 0.35% | 103.75 | 8.22% |
| CBA | CBAPJ | PERLS 13 | 20-Oct-26 | 2.75% | 1.96% | -0.11% | 101.86 | 6.99% |
| Latitude | LFSPA | Capital Notes | 27-Oct-26 | 4.75% | 7.80% | -0.87% | 95.97 | 9.62% |
| Westpac | WBCPJ | Capital Notes 7 | 22-Mar-27 | 3.40% | 2.02% | -0.02% | 103.40 | 7.50% |
| CBA | CBAPI | PERLS 12 | 20-Apr-27 | 3.00% | 2.05% | -0.05% | 102.58 | 7.18% |
| Bank of Queensland | BOQPF | Capital Notes 2 | 14-May-27 | 3.80% | 2.66% | 0.00% | 103.85 | 7.92% |
| Bendigo Bank | BENPH | Capital Notes | 15-Jun-27 | 3.80% | 2.26% | -0.06% | 104.20 | 7.84% |
| Macquarie Group | MQGPE | Capital Notes 5 | 20-Sep-27 | 2.90% | 2.51% | 0.04% | 101.36 | 7.17% |
| Nat Aust Bank | NABPH | Capital Notes 5 | 17-Dec-27 | 3.50% | 2.09% | -0.12% | 104.40 | 7.54% |
| ANZ Bank | AN3PI | Capital Notes 6 | 20-Mar-28 | 3.00% | 2.30% | -0.02% | 102.45 | 7.19% |
| CBA | CBAPL | PERLS 15 | 15-Jun-28 | 2.85% | 2.37% | -0.03% | 101.90 | 7.08% |
| Suncorp | SUNPI | Capital Notes 4 | 17-Jun-28 | 2.90% | 2.67% | 0.05% | 101.11 | 7.19% |
| Westpac | WBCPL | Capital Notes 9 | 22-Sep-28 | 3.40% | 2.22% | 0.08% | 104.20 | 7.44% |
| Macquarie Bank | MBLPD | Capital Notes 3 | 7-Dec-28 | 2.90% | 2.52% | -0.09% | 101.91 | 7.14% |
| Bank of Queensland | BOQPG | Capital Notes 3 | 15-Dec-28 | 3.40% | 2.96% | -0.06% | 101.99 | 7.62% |
| Judo Capital | JDOPA | Capital Notes | 16-Feb-29 | 6.50% | 4.40% | -0.01% | 108.66 | 10.09% |
| ANZ Bank | AN3PJ | Capital Notes 7 | 20-Mar-29 | 2.70% | 2.54% | -0.05% | 100.98 | 7.00% |
| Challenger | CGFPD | Capital Notes 4 | 25-May-29 | 3.60% | 3.16% | 0.02% | 102.60 | 7.80% |
| CBA | CBAPK | PERLS 14 | 15-Jun-29 | 2.75% | 2.35% | 0.03% | 101.94 | 6.98% |
| IAG | IAGPE | Capital Notes 2 | 15-Jun-29 | 3.50% | 3.07% | 0.10% | 102.10 | 7.71% |
| Macquarie Group | MQGPF | Capital Notes 6 | 12-Sep-29 | 3.70% | 2.76% | -0.03% | 104.22 | 7.75% |
| Nat Aust Bank | NABPI | Capital Notes 6 | 17-Sep-29 | 3.15% | 2.51% | 0.00% | 102.99 | 7.30% |
| Westpac | WBCPK | Capital Notes 8 | 21-Sep-29 | 2.90% | 2.52% | -0.07% | 101.89 | 7.13% |
| ANZ Bank | AN3PK | Capital Notes 8 | 20-Mar-30 | 2.75% | 2.74% | 0.06% | 100.50 | 7.08% |
| CBA | CBAPM | PERLS 16 | 17-Jun-30 | 3.00% | 2.46% | 0.03% | 102.82 | 7.17% |
| Suncorp | SUNPJ | Capital Notes 5 | 17-Jun-30 | 2.80% | 2.85% | 0.01% | 101.00 | 7.14% |
| Nat Aust Bank | NABPJ | Capital Notes 7 | 17-Sep-30 | 2.80% | 2.74% | 0.08% | 100.83 | 7.11% |
| Bendigo Bank | BENPI | Capital Notes 2 | 13-Dec-30 | 3.20% | 2.57% | -0.14% | 103.50 | 7.32% |
| IAG | IAGPF | Capital Notes 3 | 15-Dec-30 | 3.20% | 3.08% | 0.03% | 101.15 | 7.48% |
| ANZ Bank | AN3PL | Capital Notes 9 | 20-Mar-31 | 2.90% | 2.75% | 0.00% | 101.23 | 7.18% |
| Westpac | WBCPM | Capital Notes 10 | 22-Sep-31 | 3.10% | 2.66% | -0.01% | 102.62 | 7.27% |
| Nat Aust Bank | NABPK | Capital Notes 8 | 17-Mar-32 | 2.60% | 2.75% | 0.03% | 100.05 | 6.98% |
| 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% | 5.08% | -0.02% | 91.34 | 9.45% |
| Ramsay Health Care | RHCPA | Preference Share | Perpetual | 4.85% | 4.70% | 0.00% | 105.55 | 9.07% |
** “Clean” running yield. Includes franking credits if present.