Summary-
On March 21st, the ASX hybrid market experienced mixed movements. Judo Capital’s JDOPA saw the largest rise, gaining 0.04% to close at 113, with the highest running yield of 9.48%. Latitude’s LFSPA also showed notable strength, closing at 97.98 with a 9.18% yield, despite a 0.92% drop. Meanwhile, several hybrids experienced declines, with CBA’s CBAPG and Westpac’s WBCPH seeing drops of 1.09% and 0.30% respectively, resulting in yields of 7.53% and 7.42%. Macquarie Bank’s MBLPC and AMP Group’s AMPPB also saw negative changes of 0.36% and 0.16%, but maintained relatively higher yields of 8.65% and 8.48%, respectively.
On March 21st, Nufarm’s NFNG hybrid saw a slight increase of 0.15%, closing at 93.5 with a running yield of 9.08%. Meanwhile, Ramsay Health Care’s RHCPA hybrid rose by 0.07%, closing at 107.7 with a running yield of 8.78%. The hybrid market continues to exhibit modest gains, reflecting stable investor sentiment amidst broader market conditions.
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% | 5.38% | -1.36% | 99.96 | 7.53% |
| Westpac | WBCPH | Capital Notes 5 | 22-Sep-25 | 3.20% | 6.22% | -0.56% | 100.5 | 7.42% |
| AMP Group | AMPPB | Capital Notes 2 | 16-Dec-25 | 4.50% | 2.31% | 0.20% | 101.77 | 8.48% |
| Macquarie Bank | MBLPC | Capital Notes 2 | 22-Dec-25 | 4.70% | 2.13% | -0.07% | 102 | 8.65% |
| Challenger | CGFPC | Capital Notes 3 | 25-May-26 | 4.60% | 2.49% | -0.07% | 103.1 | 8.51% |
| Nat Aust Bank | NABPF | Capital Notes 3 | 17-Jun-26 | 4.00% | 2.11% | -0.11% | 102.45 | 7.93% |
| Suncorp | SUNPH | Capital Notes 3 | 17-Jun-26 | 3.00% | 2.23% | -0.03% | 101.11 | 7.05% |
| Macquarie Group | MQGPD | Capital Notes 4 | 10-Sep-26 | 4.15% | 2.12% | -0.14% | 103.17 | 8.03% |
| CBA | CBAPJ | PERLS 13 | 20-Oct-26 | 2.75% | 1.78% | -0.15% | 101.64 | 6.77% |
| Latitude | LFSPA | Capital Notes | 27-Oct-26 | 4.75% | 7.41% | 0.02% | 97.98 | 9.18% |
| Westpac | WBCPJ | Capital Notes 7 | 22-Mar-27 | 3.40% | 2.93% | 0.01% | 103 | 7.44% |
| CBA | CBAPI | PERLS 12 | 20-Apr-27 | 3.00% | 1.86% | 0.00% | 102.4 | 6.96% |
| Bank of Queensland | BOQPF | Capital Notes 2 | 14-May-27 | 3.80% | 2.32% | -0.18% | 103.84 | 7.69% |
| Bendigo Bank | BENPH | Capital Notes | 15-Jun-27 | 3.80% | 2.20% | -0.05% | 103.5 | 7.66% |
| Macquarie Group | MQGPE | Capital Notes 5 | 20-Sep-27 | 2.90% | 2.07% | -0.08% | 102.1 | 6.88% |
| Nat Aust Bank | NABPH | Capital Notes 5 | 17-Dec-27 | 3.50% | 2.00% | 0.04% | 103.9 | 7.34% |
| ANZ Bank | AN3PI | Capital Notes 6 | 20-Mar-28 | 3.00% | 1.63% | -0.24% | 103.79 | 6.86% |
| CBA | CBAPL | PERLS 15 | 15-Jun-28 | 2.85% | 1.67% | -0.14% | 103.59 | 6.73% |
| Suncorp | SUNPI | Capital Notes 4 | 17-Jun-28 | 2.90% | 2.12% | -0.02% | 102.49 | 6.86% |
| Westpac | WBCPL | Capital Notes 9 | 22-Sep-28 | 3.40% | 2.60% | -0.10% | 104.56 | 7.33% |
| Macquarie Bank | MBLPD | Capital Notes 3 | 7-Dec-28 | 2.90% | 2.09% | -0.09% | 103.03 | 6.83% |
| Bank of Queensland | BOQPG | Capital Notes 3 | 15-Dec-28 | 3.40% | 2.51% | -0.06% | 103.15 | 7.30% |
| Judo Capital | JDOPA | Capital Notes | 16-Feb-29 | 6.50% | 2.73% | -0.23% | 113 | 9.48% |
| ANZ Bank | AN3PJ | Capital Notes 7 | 20-Mar-29 | 2.70% | 2.13% | -0.04% | 102.2 | 6.68% |
| Challenger | CGFPD | Capital Notes 4 | 25-May-29 | 3.60% | 2.25% | -0.20% | 105.4 | 7.36% |
| CBA | CBAPK | PERLS 14 | 15-Jun-29 | 2.75% | 2.05% | -0.03% | 102.8 | 6.69% |
| IAG | IAGPE | Capital Notes 2 | 15-Jun-29 | 3.50% | 2.91% | -0.07% | 104.1 | 7.45% |
| Macquarie Group | MQGPF | Capital Notes 6 | 12-Sep-29 | 3.70% | 2.23% | 0.00% | 105.7 | 7.41% |
| Nat Aust Bank | NABPI | Capital Notes 6 | 17-Sep-29 | 3.15% | 2.02% | -0.02% | 104.45 | 6.97% |
| Westpac | WBCPK | Capital Notes 8 | 21-Sep-29 | 2.90% | 2.52% | -0.09% | 103.54 | 6.90% |
| ANZ Bank | AN3PK | Capital Notes 8 | 20-Mar-30 | 2.75% | 2.03% | -0.13% | 103.17 | 6.66% |
| CBA | CBAPM | PERLS 16 | 17-Jun-30 | 3.00% | 1.98% | -0.03% | 104.57 | 6.82% |
| Suncorp | SUNPJ | Capital Notes 5 | 17-Jun-30 | 2.80% | 2.24% | -0.05% | 102.72 | 6.74% |
| Nat Aust Bank | NABPJ | Capital Notes 7 | 17-Sep-30 | 2.80% | 2.11% | 0.04% | 103.35 | 6.70% |
| Bendigo Bank | BENPi | Capital Notes 2 | 13-Dec-30 | 3.20% | 2.35% | 0.01% | 104.2 | 7.04% |
| Insurance Australia | IAGPF | Capital Notes 3 | 15-Dec-30 | 3.20% | 2.81% | 0.04% | 103.71 | 7.17% |
| ANZ Bank | AN3PL | Capital Notes 9 | 20-Mar-31 | 2.90% | 2.10% | -0.07% | 103.99 | 6.75% |
| Westpac | WBCPM | Capital Notes 10 | 22-Sep-31 | 3.10% | 2.46% | -0.02% | 105.3 | 6.98% |
| Macquarie Group | MQGPG | Capital Notes 7 | 15-Dec-31 | 2.65% | 2.22% | -0.09% | 102.61 | 6.60% |
| Nat Aust Bank | NABPK | Capital Notes 8 | 17-Mar-32 | 2.60% | 1.90% | -0.04% | 104 | 6.47% |
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% | 4.96% | 0.15% | 93.5 | 9.08% |
| Ramsay Health Care | RHCPA | Preference Share | Perpetual | 4.85% | 4.65% | 0.13% | 107.7 | 8.78% |