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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 23 May 2017 Nationwide 6.875% PIBS 110.25
GBP 23 May 2017 OneSavings Bank 5.9884% Floating Rate Sub 100.5
GBP 23 May 2017 Nationwide Building Society 7.25 PIBS 117
GBP 23 May 2017 Halifax Plc 12 PIBS 130
GBP 23 May 2017 Co-operative Bank 11% Sub Notes 36.378
GBP 23 May 2017 Nationwide 7.859% PIBS Receipts 117.399
GBP 23 May 2017 Skipton Building Society 12.875 PIBS 199.5
GBP 23 May 2017 Manchester Building Society 6.75 PIBS 20.75
GBP 23 May 2017 Halifax Plc 9.375 PIBS 159
GBP 23 May 2017 Barclays Bank Plc 122.325
GBP 23 May 2017 Manchester Building Society 8 PIBS 27.25
GBP 23 May 2017 Leeds Building Society 13.375 PIBS 209.25
GBP 23 May 2017 Yorkshire 5.649% PIBS (call 27/3/2019 @ 100p) 100
GBP 23 May 2017 Nottingham Building Society 7.875 PIBS 122.25
GBP 23 May 2017 Nationwide 6.024% PIBS (call 6/2/2013 @ 100p) 87
GBP 23 May 2017 Ulster Bank 11 3/4% Sub Bonds 145.25
GBP 23 May 2017 Skipton 8 1/2% PIBS 139.5
GBP 23 May 2017 Newcastle Building Society 12.625 PIBS 188.75
GBP 23 May 2017 Co-operative Group 11% Final Repayment Notes 20/12/2025 124.869
GBP 23 May 2017 West Bromwich Building Society 6.15 PIBS 47.75
GBP 23 May 2017 Co-operative Group Instalment Repayment Notes 20/12/2025 (pays 1p annually) 6.3
GBP 23 May 2017 Newcastle Building Society 10.75 PIBS 166
GBP 23 May 2017 Nationwide floating rate (6 month LIBOR + 2.4%) 103
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 23 May 2017 OneSavings Bank 6.591% Perp. Sub Bonds (call 7/3/2016 @ 100p) 91.75
GBP 23 May 2017 Cheltenham & Gloucester 11 3/4% PIBS 190
GBP 23 May 2017 Bank Of Ireland 13.375 PIBS 205.5
GBP 10 Aug 2016 Coventry Building Society 12.125 PIBS 195
GBP 23 May 2017 Standard & Chart 8.125% Prefs 136
GBP 23 May 2017 Halifax Plc 8.75 PIBS 120