Summary-
The key points as of 6th March 2025, showcases:
- Judo Capital Notes (JDOPA): Judo Capital’s JDOPA stands out with the highest running yield of 9.38%. While the price dropped by -0.63% to 113.5, its attractive yield ensures it remains one of the top-performing options in the market for yield-seeking investors.
- AMP Group’s Capital Notes 2 (AMPPB): AMP’s AMPPB also performed well, closing at 103.49, up 0.63%. This increase resulted in a strong running yield of 8.45%, showing steady growth and making it a solid pick for investors.
- Macquarie Bank’s Capital Notes 2 (MBLPC): Macquarie’s MBLPC achieved a closing price of 103.55, with a slight increase of 0.11%. The yield stands at 8.63%, maintaining its place as a top choice for high-yield capital notes.
Additional Insights:
- Suncorp’s SUNPH: SUNPH from Suncorp closed at 100.88, a slight increase of 0.14%. With a running yield of 7.02%, it’s a stable, though lower-yielding, option compared to some other competitors.
- Market Trend Overview: Most capital notes are showing a modest price increase, highlighting investor confidence.
Nufarm (NFNG): Nufarm’s NFNG hybrid offers a running yield of 8.92% with a slight drop of -0.29% in its price, closing at 93.25.
Ramsay Health Care (RHCPA): Ramsay’s RHCPA preference shares saw a -0.15% decline, closing at 107.25, maintaining a strong 8.65% running yield.
ASX-Listed Hybrids
| COMPANY | CODE | HYBRID TYPE | MATURITY/ CALL DATE | MARGIN INCL. CREDITS | TRADING MARGIN | WEEK CHANGE | WEEK CLOSE | RUNNING YIELD** |
|---|---|---|---|---|---|---|---|---|
| ANZ Bank | AN3PH | Capital Notes 5 | 20-Mar-25 | 3.80% | 7.99% | 7.49% | 101.11 | 7.91% |
| CBA | CBAPG | PERLS 10 | 15-Apr-25 | 3.40% | 8.78% | 6.99% | 101.08 | 7.54% |
| Westpac | WBCPH | Capital Notes 5 | 22-Sep-25 | 3.20% | 2.62% | 0.72% | 101.90 | 7.27% |
| AMP Group | AMPPB | Capital Notes 2 | 16-Dec-25 | 4.50% | 2.38% | 0.63% | 103.49 | 8.45% |
| Macquarie Bank | MBLPC | Capital Notes 2 | 22-Dec-25 | 4.70% | 2.27% | 0.11% | 103.55 | 8.63% |
| Challenger | CGFPC | Capital Notes 3 | 25-May-26 | 4.60% | 2.59% | 0.54% | 102.65 | 8.49% |
| Nat Aust Bank | NABPF | Capital Notes 3 | 17-Jun-26 | 4.00% | 1.73% | -0.02% | 102.60 | 7.87% |
| Suncorp | SUNPH | Capital Notes 3 | 17-Jun-26 | 3.00% | 2.16% | 0.14% | 100.88 | 7.02% |
| Macquarie Group | MQGPD | Capital Notes 4 | 10-Sep-26 | 4.15% | 1.99% | 0.24% | 103.09 | 7.99% |
| CBA | CBAPJ | PERLS 13 | 20-Oct-26 | 2.75% | 2.00% | 0.03% | 102.81 | 6.76% |
| Latitude | LFSPA | Capital Notes | 27-Oct-26 | 4.75% | 7.31% | -0.58% | 97.60 | 9.15% |
| Westpac | WBCPJ | Capital Notes 7 | 22-Mar-27 | 3.40% | 1.95% | 0.09% | 104.44 | 7.29% |
| CBA | CBAPI | PERLS 12 | 20-Apr-27 | 3.00% | 1.91% | -0.19% | 103.85 | 6.94% |
| Bank of Queensland | BOQPF | Capital Notes 2 | 14-May-27 | 3.80% | 2.16% | 0.32% | 103.80 | 7.64% |
| Bendigo Bank | BENPH | Capital Notes | 15-Jun-27 | 3.80% | 2.09% | -0.26% | 103.40 | 7.62% |
| Macquarie Group | MQGPE | Capital Notes 5 | 20-Sep-27 | 2.90% | 2.10% | 0.16% | 102.10 | 6.86% |
| Nat Aust Bank | NABPH | Capital Notes 5 | 17-Dec-27 | 3.50% | 1.97% | -0.07% | 103.66 | 7.31% |
| ANZ Bank | AN3PI | Capital Notes 6 | 20-Mar-28 | 3.00% | 1.81% | -0.15% | 104.51 | 6.87% |
| CBA | CBAPL | PERLS 15 | 15-Jun-28 | 2.85% | 1.97% | -0.11% | 104.26 | 6.77% |
| Suncorp | SUNPI | Capital Notes 4 | 17-Jun-28 | 2.90% | 2.12% | -0.10% | 102.18 | 6.83% |
| Westpac | WBCPL | Capital Notes 9 | 22-Sep-28 | 3.40% | 1.93% | 0.00% | 106.20 | 7.17% |
| Macquarie Bank | MBLPD | Capital Notes 3 | 7-Dec-28 | 2.90% | 2.11% | 0.09% | 102.70 | 6.81% |
| Bank of Queensland | BOQPG | Capital Notes 3 | 15-Dec-28 | 3.40% | 2.58% | 0.29% | 102.60 | 7.29% |
| Judo Capital | JDOPA | Capital Notes | 16-Feb-29 | 6.50% | 2.45% | -0.63% | 113.50 | 9.38% |
| ANZ Bank | AN3PJ | Capital Notes 7 | 20-Mar-29 | 2.70% | 1.97% | 0.00% | 103.83 | 6.62% |
| Challenger | CGFPD | Capital Notes 4 | 25-May-29 | 3.60% | 2.56% | 0.32% | 104.00 | 7.41% |
| CBA | CBAPK | PERLS 14 | 15-Jun-29 | 2.75% | 1.89% | -0.29% | 104.80 | 6.63% |
| IAG | IAGPE | Capital Notes 2 | 15-Jun-29 | 3.50% | 3.01% | 0.72% | 103.50 | 7.45% |
| Macquarie Group | MQGPF | Capital Notes 6 | 12-Sep-29 | 3.70% | 2.10% | 0.02% | 105.90 | 7.35% |
| Nat Aust Bank | NABPI | Capital Notes 6 | 17-Sep-29 | 3.15% | 1.92% | -0.29% | 104.48 | 6.92% |
| Westpac | WBCPK | Capital Notes 8 | 21-Sep-29 | 2.90% | 2.05% | -0.11% | 104.90 | 6.77% |
| ANZ Bank | AN3PK | Capital Notes 8 | 20-Mar-30 | 2.75% | 2.13% | -0.05% | 103.90 | 6.66% |
| CBA | CBAPM | PERLS 16 | 17-Jun-30 | 3.00% | 2.03% | -0.12% | 105.88 | 6.81% |
| Suncorp | SUNPJ | Capital Notes 5 | 17-Jun-30 | 2.80% | 2.36% | 0.06% | 101.93 | 6.75% |
| Nat Aust Bank | NABPJ | Capital Notes 7 | 17-Sep-30 | 2.80% | 2.17% | -0.15% | 102.80 | 6.70% |
| Bendigo Bank | BENPi | Capital Notes 2 | 13-Dec-30 | 3.20% | 2.53% | 0.11% | 103.13 | 7.07% |
| Insurance Australia | IAGPF | Capital Notes 3 | 15-Dec-30 | 3.20% | 2.85% | 0.34% | 103.29 | 7.16% |
| ANZ Bank | AN3PL | Capital Notes 9 | 20-Mar-31 | 2.90% | 2.00% | 0.02% | 105.59 | 6.70% |
| Westpac | WBCPM | Capital Notes 10 | 22-Sep-31 | 3.10% | 2.03% | -0.08% | 107.00 | 6.82% |
| Macquarie Group | MQGPG | Capital Notes 7 | 15-Dec-31 | 2.65% | 2.35% | -0.18% | 101.70 | 6.62% |
| Nat Aust Bank | NABPK | Capital Notes 8 | 17-Mar-32 | 2.60% | 1.86% | -0.32% | 103.90 | 6.43% |
Hybrids (Non-Standard)
| COMPANY | CODE | HYBRID TYPE | MATURITY/ CALL DATE | MARGIN INCL. CREDITS | TRADING MARGIN | WEEK CHANGE | WEEK CLOSE | RUNNING YIELD** |
|---|---|---|---|---|---|---|---|---|
| Nufarm | NFNG | Step Up | Perpetual | 3.90% | 4.85% | -0.27% | 93 | 8.95% |
| Ramsay Health Care | RHCPA | Preference Share | Perpetual | 4.85% | 4.58% | -0.12% | 106.92 | 8.68% |