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Bond prices & Yields > PIBS & others

PIBS are Permanent Interest Bearing Securities. These have been issued by many UK Building Societies and are a class of subordinated debt. Coupons are fixed and the bonds have no fixed redemption date. Investors purchasing PIBS can benefit from a long stream of income flows. However, the lack of a fixed redemption date means that holders will be reliant on the market price when they wish to liquidate their investments.

Investors should be aware that PIBS are subordinated debt, and rank lower than deposits and/or senior bonds in the event of the issuer being forced into liquidation. Many PIBS also have calls, an option that allows the issuer to repurchase the bond at par at certain dates.  Thus, caution should be exercised if paying above par.

CyUpdatedIssuerPrice
GBP 30 Mar 2017 Skipton 6.875% PIBS 100.5
GBP 30 Mar 2017 Nationwide 6.875% PIBS 111.5
GBP 30 Mar 2017 OneSavings Bank 5.9884% Floating Rate Sub 100.75
GBP 30 Mar 2017 Nationwide Building Society 7.25 PIBS 117
GBP 30 Mar 2017 Halifax Plc 12 PIBS 129.5
GBP 30 Mar 2017 Co-operative Bank 11% Sub Notes 29.313
GBP 30 Mar 2017 Nationwide 7.859% PIBS Receipts 117.787
GBP 30 Mar 2017 Skipton Building Society 12.875 PIBS 195
GBP 30 Mar 2017 Manchester Building Society 6.75 PIBS 16.625
GBP 30 Mar 2017 Halifax Plc 9.375 PIBS 155.5
GBP 30 Mar 2017 Barclays Bank Plc 122.719
GBP 30 Mar 2017 Manchester Building Society 8 PIBS 26.5
GBP 30 Mar 2017 Leeds Building Society 13.375 PIBS 209
GBP 30 Mar 2017 Yorkshire 5.649% PIBS (call 27/3/2019 @ 100p) 98
GBP 30 Mar 2017 Nottingham Building Society 7.875 PIBS 121.5
GBP 30 Mar 2017 Nationwide 6.024% PIBS (call 6/2/2013 @ 100p) 85
GBP 30 Mar 2017 Ulster Bank 11 3/4% Sub Bonds 144.75
GBP 30 Mar 2017 Skipton 8 1/2% PIBS 130.5
GBP 30 Mar 2017 Newcastle Building Society 12.625 PIBS 187.75
GBP 29 Mar 2017 Co-operative Group 11% Final Repayment Notes 20/12/2025 116.822
GBP 30 Mar 2017 West Bromwich Building Society 6.15 PIBS 45.5
GBP 30 Mar 2017 Co-operative Group Instalment Repayment Notes 20/12/2025 (pays 1p annually) 6.176
GBP 30 Mar 2017 Newcastle Building Society 10.75 PIBS 161.5
GBP 30 Mar 2017 Nationwide floating rate (6 month LIBOR + 2.4%) 101
GBP 26 Oct 2016 Nationwide Building Society 6.25 PIBS 107.75
GBP 24 Nov 2016 Halifax 13 5/8% Perp. Sub Bonds 214.5
GBP 30 Mar 2017 OneSavings Bank 6.591% Perp. Sub Bonds (call 7/3/2016 @ 100p) 91.5
GBP 30 Mar 2017 Cheltenham & Gloucester 11 3/4% PIBS 195
GBP 30 Mar 2017 Bank Of Ireland 13.375 PIBS 200.5
GBP 10 Aug 2016 Coventry Building Society 12.125 PIBS 195
GBP 30 Mar 2017 Standard & Chart 8.125% Prefs 130.625
GBP 30 Mar 2017 Halifax Plc 8.75 PIBS 120