Margins mostly varied within a range of -17bps to +5bps on the day, with 26 falls and 17 rises. Ignoring short-dated securities, the margin of AMP Capital Notes (AMPPB, -38bps) had the largest (absolute) change on the day.
ASX-LISTED HYBRIDS
| COMPANY | CODE | HYBRID TYPE | MATURITY/ CALL DATE | MARGIN INCL. CREDITS | TRADING MARGIN | DAY CHANGE | PRICE (LAST) | RUNNING YIELD** |
|---|---|---|---|---|---|---|---|---|
| CBA | CBAPH | PERLS 11 | 26-Apr-24 | 3.70% | n/m | n/m | 100.10 | 8.06% |
| Bendigo Bank | BENPG | CPS 4 | 13-Jun-24 | 3.75% | 4.68% | -0.60% | 100.15 | 8.11% |
| Suncorp | SUNPG | Capital Notes 2 | 17-Jun-24 | 3.65% | 0.16% | 1.24% | 101.02 | 7.94% |
| Westpac | WBCPI | Capital Notes 6 | 30-Jul-24 | 3.70% | 0.53% | -0.22% | 101.34 | 7.96% |
| Bank of Queensland | BOQPE | Capital Notes | 15-Aug-24 | 3.75% | -0.72% | -2.25% | 102.70 | 7.96% |
| Macquarie Group | MQGPC | Capital Notes 3 | 16-Dec-24 | 4.00% | -0.31% | -0.54% | 103.40 | 8.09% |
| ANZ Banking Group | AN3PH | Capital Notes 5 | 20-Mar-25 | 3.80% | 1.41% | 0.55% | 102.50 | 7.96% |
| CBA | CBAPG | PERLS 10 | 15-Apr-25 | 3.40% | 1.39% | -0.23% | 102.39 | 7.59% |
| Westpac | WBCPH | Capital Notes 5 | 22-Sep-25 | 3.20% | 1.48% | -0.17% | 102.65 | 7.36% |
| AMP Group | AMPPB | Capital Notes 2 | 16-Dec-25 | 4.50% | 1.59% | -0.38% | 105.00 | 8.45% |
| Macquarie Bank | MBLPC | Capital Notes 2 | 22-Dec-25 | 4.70% | 1.83% | -0.08% | 104.90 | 8.64% |
| Challenger | CGFPC | Capital Notes 3 | 25-May-26 | 4.60% | 2.69% | -0.11% | 104.65 | 8.61% |
| Nat Aust Bank | NABPF | Capital Notes 3 | 17-Jun-26 | 4.00% | 1.89% | 0.01% | 104.60 | 8.00% |
| Suncorp | SUNPH | Capital Notes 3 | 17-Jun-26 | 3.00% | 2.14% | 0.00% | 102.10 | 7.21% |
| Macquarie Group | MQGPD | Capital Notes 4 | 10-Sep-26 | 4.15% | 1.89% | -0.11% | 105.42 | 8.09% |
| CBA | CBAPJ | PERLS 13 | 20-Oct-26 | 2.75% | 1.86% | 0.02% | 102.45 | 6.95% |
| Latitude | LFSPA | Capital Notes | 27-Oct-26 | 4.75% | 6.18% | 0.01% | 99.00 | 9.33% |
| Westpac | WBCPJ | Capital Notes 7 | 22-Mar-27 | 3.40% | 2.10% | 0.16% | 103.70 | 7.48% |
| CBA | CBAPI | PERLS 12 | 20-Apr-27 | 3.00% | 2.24% | 0.15% | 102.51 | 7.19% |
| Bank of Queensland | BOQPF | Capital Notes 2 | 14-May-27 | 3.80% | 2.59% | -0.07% | 104.40 | 7.88% |
| Bendigo Bank | BENPH | Capital Notes | 15-Jun-27 | 3.80% | 2.46% | -0.08% | 104.18 | 7.84% |
| Macquarie Group | MQGPE | Capital Notes 5 | 20-Sep-27 | 2.90% | 2.23% | -0.09% | 102.39 | 7.09% |
| Nat Aust Bank | NABPH | Capital Notes 5 | 17-Dec-27 | 3.50% | 2.24% | 0.08% | 104.35 | 7.54% |
| ANZ Banking Group | AN3PI | Capital Notes 6 | 20-Mar-28 | 3.00% | 2.10% | 0.04% | 103.35 | 7.12% |
| CBA | CBAPL | PERLS 15 | 15-Jun-28 | 2.85% | 2.27% | -0.05% | 102.55 | 7.04% |
| Suncorp | SUNPI | Capital Notes 4 | 17-Jun-28 | 2.90% | 2.35% | -0.02% | 102.39 | 7.09% |
| Westpac | WBCPL | Capital Notes 9 | 22-Sep-28 | 3.40% | 1.92% | -0.25% | 105.70 | 7.34% |
| Macquarie Bank | MBLPD | Capital Notes 3 | 7-Dec-28 | 2.90% | 2.39% | -0.17% | 102.62 | 7.09% |
| Bank of Queensland | BOQPG | Capital Notes 3 | 15-Dec-28 | 3.40% | 2.64% | -0.15% | 103.44 | 7.51% |
| Judo Capital | JDOPA | Capital Notes | 16-Feb-29 | 6.50% | 4.44% | 0.01% | 109.00 | 10.06% |
| ANZ Banking Group | AN3PJ | Capital Notes 7 | 20-Mar-29 | 2.70% | 2.45% | -0.07% | 101.48 | 6.96% |
| Challenger | CGFPD | Capital Notes 4 | 25-May-29 | 3.60% | 2.85% | -0.14% | 104.00 | 7.69% |
| CBA | CBAPK | PERLS 14 | 15-Jun-29 | 2.75% | 2.52% | -0.04% | 101.58 | 7.01% |
| IAG | IAGPE | Capital Notes 2 | 15-Jun-29 | 3.50% | 2.65% | -0.21% | 103.99 | 7.57% |
| Macquarie Group | MQGPF | Capital Notes 6 | 12-Sep-29 | 3.70% | 2.49% | -0.09% | 105.64 | 7.64% |
| Nat Aust Bank | NABPI | Capital Notes 6 | 17-Sep-29 | 3.15% | 2.54% | 0.02% | 103.11 | 7.29% |
| Westpac | WBCPK | Capital Notes 8 | 21-Sep-29 | 2.90% | 2.50% | -0.05% | 102.20 | 7.10% |
| ANZ Banking Group | AN3PK | Capital Notes 8 | 20-Mar-30 | 2.75% | 2.66% | 0.01% | 101.03 | 7.04% |
| CBA | CBAPM | PERLS 16 | 17-Jun-30 | 3.00% | 2.50% | 0.05% | 102.99 | 7.15% |
| Nat Aust Bank | NABPJ | Capital Notes 7 | 17-Sep-30 | 2.80% | 2.70% | 0.04% | 101.20 | 7.08% |
| Bendigo Bank | BENPI | Capital Notes 2 | 13-Dec-30 | 3.20% | 3.01% | 0.05% | 101.60 | 7.44% |
| IAG | IAGPF | Capital Notes 3 | 15-Dec-30 | 3.20% | 3.08% | -0.12% | 101.19 | 7.46% |
| ANZ Banking Group | AN3PL | Capital Notes 9 | 20-Mar-31 | 2.90% | 2.69% | -0.04% | 101.68 | 7.14% |
| Westpac | WBCPM | Capital Notes 10 | 22-Sep-31 | 3.10% | 2.71% | 0.02% | 102.68 | 7.26% |
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% | 4.90% | 0.04% | 94.50 | 9.25% |
| Ramsay Health Care | RHCPA | Preference Share | Perpetual | 4.85% | 4.47% | -0.07% | 105.35 | 8.82% |
** “Clean” running yield. Includes franking credits if present.