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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 21 Feb 2020 Bank Of Ireland 13.375 PIBS 212.935
GBP 21 Feb 2020 Halifax Plc 12 PIBS 108.362
GBP 21 Feb 2020 Halifax Plc 8.75 PIBS 117
GBP 21 Feb 2020 Cheltenham & Gloucester 11 3/4% PIBS 210.362
GBP 21 Feb 2020 Leeds Building Society 13.375 PIBS 221.75
GBP 21 Feb 2020 Manchester Building Society 6.75 PIBS 24.834
GBP 21 Feb 2020 Manchester Building Society 8 PIBS 23.545
GBP 21 Feb 2020 Nationwide Building Society 7.25 PIBS 108.925
GBP 21 Feb 2020 Newcastle Building Society 10.75 PIBS 153.493
GBP 21 Feb 2020 Newcastle Building Society 12.625 PIBS 205.061
GBP 21 Feb 2020 Nottingham Building Society 7.875 PIBS 130.533
GBP 21 Feb 2020 Principality Building Society 7 PIBS 100.317
GBP 21 Feb 2020 Skipton Building Society 12.875 PIBS 200.556
GBP 21 Feb 2020 West Bromwich Building Society 6.15 PIBS 48
GBP 21 Feb 2020 Standard & Chart 8.125% Prefs 141.5
GBP 21 Feb 2020 Nationwide 7.859% PIBS Receipts 124.008
GBP 21 Feb 2020 Nationwide floating rate (6 month LIBOR + 2.4%) 93
GBP 21 Feb 2020 OneSavings Bank 6.591% Perp. Sub Bonds (call 7/3/2016 @ 100p) 91
GBP 21 Feb 2020 Skipton 8 1/2% PIBS 138.273
GBP 21 Feb 2020 Ulster Bank 11 3/4% Sub Bonds 176
GBP 21 Feb 2020 Co-operative Group 11% Final Repayment Notes 20/12/2025 128.365
GBP 21 Feb 2020 Co-operative Group Instalment Repayment Notes 20/12/2025 (pays 1p annually) 5.1
GBP 20 Feb 2020 Halifax Plc 9.375 PIBS 161.5
GBP 24 Jun 2019 Barclays Bank Plc 100.064
GBP 28 Mar 2019 Yorkshire 5.649% PIBS (call 27/3/2019 @ 100p) 99.5
GBP 10 May 2018 Nationwide 6.024% PIBS (call 6/2/2013 @ 100p) 100
GBP 4 Sep 2017 Co-operative Bank 11% Sub Notes 28
GBP 24 Nov 2016 Halifax 13 5/8% Perp. Sub Bonds 214.5
GBP 26 Oct 2016 Nationwide Building Society 6.25 PIBS 107.75
GBP 10 Aug 2016 Coventry Building Society 12.125 PIBS 195