Margins mostly varied within a range of -29bps to +28bps on the day, with 15 falls and 27 rises. Ignoring short-dated securities, the margins of Suncorp Capital Notes 3 (SUNPH, -77bps), Latitude Capital Notes (LFSPA, +60bps), Westpac Capital Notes 5 (WBCPH, -56bps) and AMP Capital Notes 2 (AMPPB, +51bps) had the largest (absolute) changes on the day.
Suncorp Capital Notes 2 (SUNPG) ceased trading today and will be redeemed next month.
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% | 7.58% | 5.22% | 101.00 | 8.09% |
| Bank of Queensland | BOQPE | Capital Notes | 15-Aug-24 | 3.75% | -0.71% | -1.16% | 101.32 | 8.01% |
| Macquarie Group | MQGPC | Capital Notes 3 | 16-Dec-24 | 4.00% | -0.35% | -0.74% | 103.94 | 8.14% |
| ANZ Banking Group | AN3PH | Capital Notes 5 | 20-Mar-25 | 3.80% | 0.70% | -0.04% | 103.81 | 7.94% |
| CBA | CBAPG | PERLS 10 | 15-Apr-25 | 3.40% | 1.63% | -0.12% | 103.18 | 7.62% |
| Westpac | WBCPH | Capital Notes 5 | 22-Sep-25 | 3.20% | 1.61% | 0.17% | 103.50 | 7.39% |
| AMP Group | AMPPB | Capital Notes 2 | 16-Dec-25 | 4.50% | 2.84% | 0.23% | 104.20 | 8.62% |
| Macquarie Bank | MBLPC | Capital Notes 2 | 22-Dec-25 | 4.70% | 1.82% | 0.13% | 105.85 | 8.66% |
| Challenger | CGFPC | Capital Notes 3 | 25-May-26 | 4.60% | 2.27% | 0.16% | 104.46 | 8.57% |
| Nat Aust Bank | NABPF | Capital Notes 3 | 17-Jun-26 | 4.00% | 2.37% | 0.76% | 104.88 | 8.08% |
| Suncorp | SUNPH | Capital Notes 3 | 17-Jun-26 | 3.00% | 1.77% | 0.02% | 102.10 | 7.17% |
| Macquarie Group | MQGPD | Capital Notes 4 | 10-Sep-26 | 4.15% | 2.16% | 0.49% | 105.85 | 8.15% |
| CBA | CBAPJ | PERLS 13 | 20-Oct-26 | 2.75% | 2.45% | 0.68% | 102.31 | 7.03% |
| Latitude | LFSPA | Capital Notes | 27-Oct-26 | 4.75% | 8.15% | 1.43% | 94.80 | 9.67% |
| Westpac | WBCPJ | Capital Notes 7 | 22-Mar-27 | 3.40% | 2.24% | 0.34% | 104.50 | 7.51% |
| CBA | CBAPI | PERLS 12 | 20-Apr-27 | 3.00% | 2.42% | 0.72% | 103.20 | 7.22% |
| Bank of Queensland | BOQPF | Capital Notes 2 | 14-May-27 | 3.80% | 2.56% | 0.14% | 103.75 | 7.87% |
| Bendigo Bank | BENPH | Capital Notes | 15-Jun-27 | 3.80% | 2.95% | 0.80% | 104.20 | 7.94% |
| Macquarie Group | MQGPE | Capital Notes 5 | 20-Sep-27 | 2.90% | 2.40% | 0.40% | 101.36 | 7.12% |
| Nat Aust Bank | NABPH | Capital Notes 5 | 17-Dec-27 | 3.50% | 2.65% | 0.55% | 104.40 | 7.63% |
| ANZ Bank | AN3PI | Capital Notes 6 | 20-Mar-28 | 3.00% | 2.25% | 0.55% | 103.83 | 7.15% |
| CBA | CBAPL | PERLS 15 | 15-Jun-28 | 2.85% | 2.24% | -0.02% | 103.79 | 7.03% |
| Suncorp | SUNPI | Capital Notes 4 | 17-Jun-28 | 2.90% | 2.65% | 0.26% | 100.85 | 7.16% |
| Westpac | WBCPL | Capital Notes 9 | 22-Sep-28 | 3.40% | 2.47% | 0.10% | 105.00 | 7.48% |
| Macquarie Bank | MBLPD | Capital Notes 3 | 7-Dec-28 | 2.90% | 2.56% | 0.23% | 101.47 | 7.13% |
| Bank of Queensland | BOQPG | Capital Notes 3 | 15-Dec-28 | 3.40% | 2.80% | 0.00% | 102.15 | 7.55% |
| Judo Capital | JDOPA | Capital Notes | 16-Feb-29 | 6.50% | 3.62% | 0.12% | 110.90 | 9.81% |
| ANZ Bank | AN3PJ | Capital Notes 7 | 20-Mar-29 | 2.70% | 2.38% | 0.12% | 102.70 | 6.93% |
| Challenger | CGFPD | Capital Notes 4 | 25-May-29 | 3.60% | 3.08% | 0.34% | 102.50 | 7.75% |
| CBA | CBAPK | PERLS 14 | 15-Jun-29 | 2.75% | 2.69% | 0.56% | 102.12 | 7.05% |
| IAG | IAGPE | Capital Notes 2 | 15-Jun-29 | 3.50% | 2.99% | 0.17% | 103.80 | 7.66% |
| Macquarie Group | MQGPF | Capital Notes 6 | 12-Sep-29 | 3.70% | 2.74% | 0.24% | 104.00 | 7.71% |
| Nat Aust Bank | NABPI | Capital Notes 6 | 17-Sep-29 | 3.15% | 2.49% | 0.15% | 104.57 | 7.27% |
| Westpac | WBCPK | Capital Notes 8 | 21-Sep-29 | 2.90% | 2.61% | 0.09% | 103.00 | 7.13% |
| ANZ Bank | AN3PK | Capital Notes 8 | 20-Mar-30 | 2.75% | 2.83% | 0.43% | 101.30 | 7.08% |
| CBA | CBAPM | PERLS 16 | 17-Jun-30 | 3.00% | 2.76% | 0.41% | 103.07 | 7.23% |
| Suncorp | SUNPJ | Capital Notes 5 | 17-Jun-30 | 2.80% | 2.84% | 0.23% | 100.70 | 7.12% |
| Nat Aust Bank | NABPJ | Capital Notes 7 | 17-Sep-30 | 2.80% | 2.90% | 0.38% | 101.55 | 7.13% |
| Bendigo Bank | BENPI | Capital Notes 2 | 13-Dec-30 | 3.20% | 2.97% | 0.31% | 103.19 | 7.42% |
| IAG | IAGPF | Capital Notes 3 | 15-Dec-30 | 3.20% | 3.14% | 0.25% | 101.91 | 7.48% |
| ANZ Bank | AN3PL | Capital Notes 9 | 20-Mar-31 | 2.90% | 2.89% | -0.01% | 101.76 | 7.20% |
| Westpac | WBCPM | Capital Notes 10 | 22-Sep-31 | 3.10% | 2.83% | 0.09% | 103.30 | 7.30% |
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% | 5.01% | 0.02% | 91.85 | 9.35% |
| Ramsay Health Care | RHCPA | Preference Share | Perpetual | 4.85% | 4.62% | -0.06% | 106.30 | 8.96% |
** “Clean” running yield. Includes franking credits if present.