Summary-
AMP Group’s (AMPPB) Capital Notes 2, maturing in December 2025, traded with a slight decrease in price (-0.38%) and a strong yield of 8.48%, indicating continued investor confidence in financial institutions. The CBA (CBAPG) PERLS 10, with a 7.54% running yield, saw a noticeable increase in trading margin (+7.31%), highlighting the bank’s solid performance and investor interest. Judo Capital (JDOPA) offered an attractive running yield of 9.55%, maintaining the highest position in the list, reflecting the growing appeal of non-bank lenders offering strong returns.
Nufarm (NFNG) continues to see a positive day, with a slight increase in trading margin (+0.02%) and a healthy running yield of 9.12%. The perpetual step-up hybrid remains an attractive option for yield-seeking investors. Ramsay Health Care (RHCPA) showed a minor decrease in price (-0.002%), but its perpetual preference shares still offer a solid yield of 8.69%, reflecting stability despite slight fluctuations.
ASX-Listed Hybrids
| COMPANY | CODE | HYBRID TYPE | MATURITY/ CALL DATE | MARGIN INCL. CREDITS | TRADING MARGIN | DAY CHANGE | DAY CLOSE | RUNNING YIELD** |
|---|---|---|---|---|---|---|---|---|
| CBA | CBAPG | PERLS 10 | 15-Apr-25 | 3.40% | 7.31% | -0.49% | 100.05 | 7.54% |
| Westpac | WBCPH | Capital Notes 5 | 22-Sep-25 | 3.20% | 6.55% | 0.00% | 100.55 | 7.44% |
| AMP Group | AMPPB | Capital Notes 2 | 16-Dec-25 | 4.50% | 2.18% | -0.38% | 101.98 | 8.48% |
| Macquarie Bank | MBLPC | Capital Notes 2 | 22-Dec-25 | 4.70% | 2.27% | -0.15% | 102.00 | 8.67% |
| Challenger | CGFPC | Capital Notes 3 | 25-May-26 | 4.60% | 2.25% | 0.14% | 103.50 | 8.50% |
| Nat Aust Bank | NABPF | Capital Notes 3 | 17-Jun-26 | 4.00% | 1.96% | 0.05% | 102.75 | 7.93% |
| Suncorp | SUNPH | Capital Notes 3 | 17-Jun-26 | 3.00% | 2.11% | 0.03% | 101.37 | 7.05% |
| Macquarie Group | MQGPD | Capital Notes 4 | 10-Sep-26 | 4.15% | 1.77% | 0.07% | 103.75 | 8.01% |
| CBA | CBAPJ | PERLS 13 | 20-Oct-26 | 2.75% | 1.70% | -0.01% | 101.88 | 6.77% |
| Latitude | LFSPA | Capital Notes | 27-Oct-26 | 4.75% | 7.75% | 0.34% | 97.75 | 9.23% |
| Westpac | WBCPJ | Capital Notes 7 | 22-Mar-27 | 3.40% | 2.93% | -0.02% | 103.15 | 7.45% |
| CBA | CBAPI | PERLS 12 | 20-Apr-27 | 3.00% | 1.85% | 0.15% | 102.55 | 6.97% |
| Bank of Queensland | BOQPF | Capital Notes 2 | 14-May-27 | 3.80% | 2.36% | -0.01% | 103.90 | 7.70% |
| Bendigo Bank | BENPH | Capital Notes | 15-Jun-27 | 3.80% | 2.16% | 0.02% | 103.71 | 7.67% |
| Macquarie Group | MQGPE | Capital Notes 5 | 20-Sep-27 | 2.90% | 1.87% | -0.01% | 102.64 | 6.86% |
| Nat Aust Bank | NABPH | Capital Notes 5 | 17-Dec-27 | 3.50% | 1.88% | -0.01% | 104.32 | 7.33% |
| ANZ Bank | AN3PI | Capital Notes 6 | 20-Mar-28 | 3.00% | 1.87% | 0.07% | 103.27 | 6.91% |
| CBA | CBAPL | PERLS 15 | 15-Jun-28 | 2.85% | 1.91% | 0.10% | 103.05 | 6.79% |
| Suncorp | SUNPI | Capital Notes 4 | 17-Jun-28 | 2.90% | 2.02% | -0.11% | 102.89 | 6.85% |
| Westpac | WBCPL | Capital Notes 9 | 22-Sep-28 | 3.40% | 2.50% | 0.06% | 105.00 | 7.32% |
| Macquarie Bank | MBLPD | Capital Notes 3 | 7-Dec-28 | 2.90% | 2.28% | 0.12% | 102.54 | 6.88% |
| Bank of Queensland | BOQPG | Capital Notes 3 | 15-Dec-28 | 3.40% | 2.27% | -0.04% | 104.00 | 7.26% |
| Judo Capital | JDOPA | Capital Notes | 16-Feb-29 | 6.50% | 2.93% | 0.15% | 112.55 | 9.55% |
| ANZ Bank | AN3PJ | Capital Notes 7 | 20-Mar-29 | 2.70% | 1.94% | -0.15% | 102.89 | 6.65% |
| Challenger | CGFPD | Capital Notes 4 | 25-May-29 | 3.60% | 2.17% | -0.07% | 105.79 | 7.36% |
| CBA | CBAPK | PERLS 14 | 15-Jun-29 | 2.75% | 1.85% | 0.04% | 103.60 | 6.66% |
| IAG | IAGPE | Capital Notes 2 | 15-Jun-29 | 3.50% | 2.53% | -0.14% | 105.49 | 7.36% |
| Macquarie Group | MQGPF | Capital Notes 6 | 12-Sep-29 | 3.70% | 1.97% | -0.08% | 106.74 | 7.36% |
| Nat Aust Bank | NABPI | Capital Notes 6 | 17-Sep-29 | 3.15% | 1.89% | 0.05% | 105.05 | 6.95% |
| Westpac | WBCPK | Capital Notes 8 | 21-Sep-29 | 2.90% | 2.46% | 0.06% | 103.91 | 6.90% |
| ANZ Bank | AN3PK | Capital Notes 8 | 20-Mar-30 | 2.75% | 2.04% | -0.02% | 103.22 | 6.67% |
| CBA | CBAPM | PERLS 16 | 17-Jun-30 | 3.00% | 1.84% | -0.02% | 105.25 | 6.79% |
| Suncorp | SUNPJ | Capital Notes 5 | 17-Jun-30 | 2.80% | 2.20% | 0.01% | 103.02 | 6.74% |
| Nat Aust Bank | NABPJ | Capital Notes 7 | 17-Sep-30 | 2.80% | 1.95% | 0.12% | 104.14 | 6.67% |
| Bendigo Bank | BENPi | Capital Notes 2 | 13-Dec-30 | 3.20% | 2.43% | 0.02% | 104.00 | 7.07% |
| Insurance Australia | IAGPF | Capital Notes 3 | 15-Dec-30 | 3.20% | 2.57% | 0.05% | 104.84 | 7.11% |
| ANZ Bank | AN3PL | Capital Notes 9 | 20-Mar-31 | 2.90% | 1.96% | 0.15% | 104.71 | 6.72% |
| Westpac | WBCPM | Capital Notes 10 | 22-Sep-31 | 3.10% | 2.29% | -0.05% | 106.24 | 6.94% |
| Macquarie Group | MQGPG | Capital Notes 7 | 15-Dec-31 | 2.65% | 2.08% | 0.05% | 103.40 | 6.57% |
| Nat Aust Bank | NABPK | Capital Notes 8 | 17-Mar-32 | 2.60% | 1.85% | -0.07% | 104.40 | 6.46% |
ASX-Listed Hybrids (Non-standard)
| COMPANY | CODE | HYBRID TYPE | MATURITY/ CALL DATE | MARGIN INCL. CREDITS | TRADING MARGIN | DAY CHANGE | DAY CLOSE | RUNNING YIELD** |
|---|---|---|---|---|---|---|---|---|
| Nufarm | NFNG | Step Up | Perpetual | 3.90% | 4.99% | 0.02% | 93.6 | 9.12% |
| Ramsay Health Care | RHCPA | Preference Share | Perpetual | 4.85% | 4.56% | 0.00% | 109.3 | 8.69% |