Summary: NAB to issue new hybrid security; upcoming call on NABPD hybrid in July; expected to initially pay around 4.30% (annualised, including franking credits); likely issue margin 3.15%, slightly below the midpoint of trading margin band; first call date in December 2029; trading expected to begin on 8 July 2022. In recent years, when one of a company’s existing hybrids approaches its first call date (or first optional exchange date),...