Summary-
Westpac’s WBCPH surged with a sharp 10.53% day move, leading the hybrid space with a trading margin of 19.81% and a running yield of 7.17%.
Judo Capital’s JDOPA was the sole decliner, slipping 0.05% despite boasting the highest running yield of 9.43%.
In the perpetual space, Nufarm’s NFNG has a standout 9.04% yield, while Ramsay’s RHCPA remained steady with a solid 8.36% yield, trading above par.
ASX-Listed Hybrids
| COMPANY | CODE | HYBRID TYPE | MATURITY/ CALL DATE | MARGIN INCL. CREDITS | TRADING MARGIN | DAY CHANGE | DAY CLOSE | RUNNING YIELD** |
|---|---|---|---|---|---|---|---|---|
| Westpac | WBCPH | Capital Notes 5 | 22-09-2025 | 3.20% | 19.81% | 10.53% | 99.97 | 7.17% |
| AMP Group | AMPPB | Capital Notes 2 | 16-12-2025 | 4.50% | 7.04% | 4.14% | 101 | 8.29% |
| Macquarie Bank | MBLPC | Capital Notes 2 | 22-12-2025 | 4.70% | 6.59% | 4.10% | 101.049 | 8.47% |
| Challenger | CGFPC | Capital Notes 3 | 25-05-2026 | 4.60% | 5.21% | 0.78% | 102.47 | 8.33% |
| Nat Aust Bank | NABPF | Capital Notes 3 | 17-06-2026 | 4.00% | 4.18% | 2.17% | 102.099 | 7.70% |
| Suncorp | SUNPH | Capital Notes 3 | 17-06-2026 | 3.00% | 4.20% | 1.76% | 100.88 | 6.77% |
| Macquarie Group | MQGPD | Capital Notes 4 | 10-09-2026 | 4.15% | 3.86% | 1.99% | 102.5 | 7.81% |
| CBA | CBAPJ | PERLS 13 | 20-10-2026 | 2.75% | 3.48% | 1.57% | 101.05 | 6.50% |
| Latitude | LFSPA | Capital Notes | 27-10-2026 | 4.75% | 11.18% | 1.24% | 96.5 | 9.09% |
| Westpac | WBCPJ | Capital Notes 7 | 22-03-2027 | 3.40% | 4.64% | 1.48% | 102.197 | 7.22% |
| CBA | CBAPI | PERLS 12 | 20-04-2027 | 3.00% | 3.09% | 1.04% | 101.91 | 6.70% |
| Bank of Queensland | BOQPF | Capital Notes 2 | 14-05-2027 | 3.80% | 4.18% | 0.97% | 102.58 | 7.53% |
| Bendigo Bank | BENPH | Capital Notes | 15-06-2027 | 3.80% | 3.71% | 1.52% | 102.5 | 7.47% |
| Macquarie Group | MQGPE | Capital Notes 5 | 20-09-2027 | 2.90% | 3.11% | 0.91% | 101.39 | 6.61% |
| Nat Aust Bank | NABPH | Capital Notes 5 | 17-12-2027 | 3.50% | 3.16% | 0.94% | 103 | 7.13% |
| ANZ Bank | AN3PI | Capital Notes 6 | 20-03-2028 | 3.00% | 2.78% | 0.78% | 102.16 | 6.65% |
| CBA | CBAPL | PERLS 15 | 15-06-2028 | 2.85% | 2.99% | 0.70% | 101.76 | 6.55% |
| Suncorp | SUNPI | Capital Notes 4 | 17-06-2028 | 2.90% | 3.33% | 1.16% | 101.05 | 6.65% |
| Westpac | WBCPL | Capital Notes 9 | 22-09-2028 | 3.40% | 3.61% | 0.65% | 103.68 | 7.12% |
| Macquarie Bank | MBLPD | Capital Notes 3 | 07-12-2028 | 2.90% | 2.85% | 0.45% | 102.2 | 6.57% |
| Bank of Queensland | BOQPG | Capital Notes 3 | 15-12-2028 | 3.40% | 3.31% | 0.71% | 102.601 | 7.06% |
| Judo Capital | JDOPA | Capital Notes | 16-02-2029 | 6.50% | 3.83% | -0.05% | 112 | 9.43% |
| ANZ Bank | AN3PJ | Capital Notes 7 | 20-03-2029 | 2.70% | 2.79% | 0.60% | 101.39 | 6.40% |
| Challenger | CGFPD | Capital Notes 4 | 25-05-2029 | 3.60% | 3.41% | 0.53% | 103.5 | 7.23% |
| CBA | CBAPK | PERLS 14 | 15-06-2029 | 2.75% | 2.87% | 0.63% | 101.77 | 6.45% |
| IAG | IAGPE | Capital Notes 2 | 15-06-2029 | 3.50% | 3.75% | 0.89% | 103 | 7.23% |
| Macquarie Group | MQGPF | Capital Notes 6 | 12-09-2029 | 3.70% | 2.79% | 0.38% | 105.3 | 7.15% |
| Nat Aust Bank | NABPI | Capital Notes 6 | 17-09-2029 | 3.15% | 2.71% | 0.45% | 103.77 | 6.72% |
| Westpac | WBCPK | Capital Notes 8 | 21-09-2029 | 2.90% | 3.21% | 0.36% | 103.04 | 6.64% |
| ANZ Bank | AN3PK | Capital Notes 8 | 20-03-2030 | 2.75% | 2.71% | 0.43% | 101.86 | 6.42% |
| CBA | CBAPM | PERLS 16 | 17-06-2030 | 3.00% | 2.50% | 0.36% | 104.19 | 6.55% |
| Suncorp | SUNPJ | Capital Notes 5 | 17-06-2030 | 2.80% | 2.92% | 0.45% | 101.76 | 6.50% |
| Nat Aust Bank | NABPJ | Capital Notes 7 | 17-09-2030 | 2.80% | 2.66% | 0.27% | 102.801 | 6.44% |
| Bendigo Bank | BENPi | Capital Notes 2 | 13-12-2030 | 3.20% | 3.11% | 0.53% | 102.85 | 6.84% |
| Insurance Australia | IAGPF | Capital Notes 3 | 15-12-2030 | 3.20% | 3.42% | 0.52% | 102.7 | 6.93% |
| ANZ Bank | AN3PL | Capital Notes 9 | 20-03-2031 | 2.90% | 2.69% | 0.51% | 102.69 | 6.51% |
| Westpac | WBCPM | Capital Notes 10 | 22-09-2031 | 3.10% | 3.11% | 0.47% | 104.21 | 6.77% |
| Macquarie Group | MQGPG | Capital Notes 7 | 15-12-2031 | 2.65% | 2.77% | 0.46% | 101.5 | 6.35% |
| Nat Aust Bank | NABPK | Capital Notes 8 | 17-03-2032 | 2.60% | 2.38% | 0.20% | 103.26 | 6.21% |
ASX-Listed Hybrids (Non-standard)
| COMPANY | CODE | BOND TYPE | CALL DATE | ISSUE MARGIN (inc frank) | TRADING MARGIN | DAY | CLOSING PRICE | RUNNING YIELD |
|---|---|---|---|---|---|---|---|---|
| Nufarm | NFNG | Step Up | Perpetual | 3.90% | 5.34% | 5.34% | 87.2 | 9.04% |
| Ramsay Health Care | RHCPA | Preference Share | Perpetual | 4.85% | 4.66% | 4.66% | 105.6 | 8.36% |