Margins mostly varied within a range of -14bps to +22bps on the day, with 19 falls and 24 rises. Ignoring short-dated securities, the margins of Latitude Capital Notes (LFSPA, +67bps) and Suncorp Capital Notes 3 (SUNPH, +59bps) had the largest (absolute) changes on the day.
| 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% | 5.06% | -1.53% | 99.76 | 8.08% |
| Bank of Queensland | BOQPE | Capital Notes | 15-Aug-24 | 3.75% | 1.37% | 1.22% | 101.10 | 8.08% |
| Macquarie Group | MQGPC | Capital Notes 3 | 16-Dec-24 | 4.00% | 1.53% | 0.91% | 101.25 | 8.26% |
| ANZ Banking Group | AN3PH | Capital Notes 5 | 20-Mar-25 | 3.80% | 1.74% | 0.26% | 101.52 | 8.04% |
| CBA | CBAPG | PERLS 10 | 15-Apr-25 | 3.40% | 1.92% | 0.11% | 101.23 | 7.67% |
| Westpac | WBCPH | Capital Notes 5 | 22-Sep-25 | 3.20% | 1.85% | 0.18% | 101.56 | 7.43% |
| AMP Group | AMPPB | Capital Notes 2 | 16-Dec-25 | 4.50% | 2.76% | 0.02% | 102.55 | 8.64% |
| Macquarie Bank | MBLPC | Capital Notes 2 | 22-Dec-25 | 4.70% | 2.21% | 0.25% | 103.55 | 8.74% |
| Challenger | CGFPC | Capital Notes 3 | 25-May-26 | 4.60% | 2.84% | -0.13% | 103.75 | 8.68% |
| Nat Aust Bank | NABPF | Capital Notes 3 | 17-Jun-26 | 4.00% | 2.30% | 0.20% | 103.21 | 8.10% |
| Suncorp | SUNPH | Capital Notes 3 | 17-Jun-26 | 3.00% | 2.14% | 0.59% | 101.70 | 7.24% |
| Macquarie Group | MQGPD | Capital Notes 4 | 10-Sep-26 | 4.15% | 2.09% | -0.18% | 104.39 | 8.16% |
| CBA | CBAPJ | PERLS 13 | 20-Oct-26 | 2.75% | 2.07% | -0.13% | 101.58 | 7.00% |
| Latitude | LFSPA | Capital Notes | 27-Oct-26 | 4.75% | 8.67% | 0.67% | 94.36 | 9.78% |
| Westpac | WBCPJ | Capital Notes 7 | 22-Mar-27 | 3.40% | 2.04% | 0.05% | 103.30 | 7.50% |
| CBA | CBAPI | PERLS 12 | 20-Apr-27 | 3.00% | 2.10% | 0.18% | 102.41 | 7.19% |
| Bank of Queensland | BOQPF | Capital Notes 2 | 14-May-27 | 3.80% | 2.66% | -0.21% | 103.80 | 7.92% |
| Bendigo Bank | BENPH | Capital Notes | 15-Jun-27 | 3.80% | 2.32% | -0.03% | 104.00 | 7.85% |
| Macquarie Group | MQGPE | Capital Notes 5 | 20-Sep-27 | 2.90% | 2.47% | 0.10% | 101.41 | 7.16% |
| Nat Aust Bank | NABPH | Capital Notes 5 | 17-Dec-27 | 3.50% | 2.21% | 0.04% | 104.00 | 7.56% |
| ANZ Bank | AN3PI | Capital Notes 6 | 20-Mar-28 | 3.00% | 2.32% | 0.13% | 102.33 | 7.19% |
| CBA | CBAPL | PERLS 15 | 15-Jun-28 | 2.85% | 2.40% | -0.01% | 101.75 | 7.09% |
| Suncorp | SUNPI | Capital Notes 4 | 17-Jun-28 | 2.90% | 2.62% | -0.03% | 101.22 | 7.17% |
| Westpac | WBCPL | Capital Notes 9 | 22-Sep-28 | 3.40% | 2.15% | -0.08% | 104.40 | 7.42% |
| Macquarie Bank | MBLPD | Capital Notes 3 | 7-Dec-28 | 2.90% | 2.61% | 0.19% | 101.55 | 7.16% |
| Bank of Queensland | BOQPG | Capital Notes 3 | 15-Dec-28 | 3.40% | 3.02% | 0.08% | 101.72 | 7.63% |
| Judo Capital | JDOPA | Capital Notes | 16-Feb-29 | 6.50% | 4.41% | 0.14% | 108.56 | 10.09% |
| ANZ Bank | AN3PJ | Capital Notes 7 | 20-Mar-29 | 2.70% | 2.58% | -0.02% | 100.77 | 7.01% |
| Challenger | CGFPD | Capital Notes 4 | 25-May-29 | 3.60% | 3.14% | -0.01% | 102.61 | 7.79% |
| CBA | CBAPK | PERLS 14 | 15-Jun-29 | 2.75% | 2.32% | -0.13% | 101.99 | 6.97% |
| IAG | IAGPE | Capital Notes 2 | 15-Jun-29 | 3.50% | 2.97% | 0.03% | 102.41 | 7.68% |
| Macquarie Group | MQGPF | Capital Notes 6 | 12-Sep-29 | 3.70% | 2.79% | -0.14% | 104.05 | 7.75% |
| Nat Aust Bank | NABPI | Capital Notes 6 | 17-Sep-29 | 3.15% | 2.51% | -0.09% | 102.92 | 7.30% |
| Westpac | WBCPK | Capital Notes 8 | 21-Sep-29 | 2.90% | 2.59% | 0.00% | 101.56 | 7.14% |
| ANZ Bank | AN3PK | Capital Notes 8 | 20-Mar-30 | 2.75% | 2.68% | 0.02% | 100.71 | 7.06% |
| CBA | CBAPM | PERLS 16 | 17-Jun-30 | 3.00% | 2.43% | -0.07% | 102.90 | 7.15% |
| Suncorp | SUNPJ | Capital Notes 5 | 17-Jun-30 | 2.80% | 2.83% | -0.02% | 101.00 | 7.14% |
| Nat Aust Bank | NABPJ | Capital Notes 7 | 17-Sep-30 | 2.80% | 2.65% | 0.06% | 101.12 | 7.08% |
| Bendigo Bank | BENPI | Capital Notes 2 | 13-Dec-30 | 3.20% | 2.71% | -0.10% | 102.80 | 7.36% |
| IAG | IAGPF | Capital Notes 3 | 15-Dec-30 | 3.20% | 3.04% | 0.09% | 101.25 | 7.47% |
| ANZ Bank | AN3PL | Capital Notes 9 | 20-Mar-31 | 2.90% | 2.75% | -0.04% | 101.17 | 7.18% |
| Westpac | WBCPM | Capital Notes 10 | 22-Sep-31 | 3.10% | 2.67% | 0.00% | 102.50 | 7.27% |
| Nat Aust Bank | NABPK | Capital Notes 8 | 17-Mar-32 | 2.60% | 2.72% | 0.01% | 100.16 | 6.96% |
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% | 5.10% | -0.08% | 91.10 | 9.46% |
| Ramsay Health Care | RHCPA | Preference Share | Perpetual | 4.85% | 4.70% | 0.01% | 105.53 | 9.06% |
** “Clean” running yield. Includes franking credits if present.