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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 20 Oct 2017 Nationwide 6.875% PIBS 111.5
GBP 20 Oct 2017 OneSavings Bank 5.9884% Floating Rate Sub 101.5
GBP 20 Oct 2017 Nationwide Building Society 7.25 PIBS 119
GBP 20 Oct 2017 Halifax Plc 12 PIBS 141.5
GBP 4 Sep 2017 Co-operative Bank 11% Sub Notes 28
GBP 20 Oct 2017 Nationwide 7.859% PIBS Receipts 121.327
GBP 20 Oct 2017 Skipton Building Society 12.875 PIBS 216
GBP 20 Oct 2017 Manchester Building Society 6.75 PIBS 19.875
GBP 20 Oct 2017 Halifax Plc 9.375 PIBS 165
GBP 20 Oct 2017 Barclays Bank Plc 117.846
GBP 20 Oct 2017 Manchester Building Society 8 PIBS 27.25
GBP 18 Oct 2017 Principality Building Society 7 PIBS 106.636
GBP 20 Oct 2017 Leeds Building Society 13.375 PIBS 213.75
GBP 20 Oct 2017 Yorkshire 5.649% PIBS (call 27/3/2019 @ 100p) 101
GBP 20 Oct 2017 Nottingham Building Society 7.875 PIBS 126.75
GBP 20 Oct 2017 Nationwide 6.024% PIBS (call 6/2/2013 @ 100p) 95
GBP 20 Oct 2017 Ulster Bank 11 3/4% Sub Bonds 170
GBP 20 Oct 2017 Skipton 8 1/2% PIBS 147
GBP 20 Oct 2017 Newcastle Building Society 12.625 PIBS 207.5
GBP 20 Oct 2017 Co-operative Group 11% Final Repayment Notes 20/12/2025 128.305
GBP 20 Oct 2017 West Bromwich Building Society 6.15 PIBS 57
GBP 20 Oct 2017 Co-operative Group Instalment Repayment Notes 20/12/2025 (pays 1p annually) 6.7
GBP 20 Oct 2017 Newcastle Building Society 10.75 PIBS 174.25
GBP 20 Oct 2017 Nationwide floating rate (6 month LIBOR + 2.4%) 105.25
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 20 Oct 2017 OneSavings Bank 6.591% Perp. Sub Bonds (call 7/3/2016 @ 100p) 97
GBP 20 Oct 2017 Cheltenham & Gloucester 11 3/4% PIBS 224
GBP 20 Oct 2017 Bank Of Ireland 13.375 PIBS 221.25
GBP 10 Aug 2016 Coventry Building Society 12.125 PIBS 195
GBP 20 Oct 2017 Standard & Chart 8.125% Prefs 146.75
GBP 20 Oct 2017 Halifax Plc 8.75 PIBS 124