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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 15 Oct 2019 Bank Of Ireland 13.375 PIBS 208.25
GBP 24 Jun 2019 Barclays Bank Plc 100.064
GBP 15 Oct 2019 Cheltenham & Gloucester 11 3/4% PIBS 209.512
GBP 4 Sep 2017 Co-operative Bank 11% Sub Notes 28
GBP 15 Oct 2019 Co-operative Group 11% Final Repayment Notes 20/12/2025 123.804
GBP 15 Oct 2019 Co-operative Group Instalment Repayment Notes 20/12/2025 (pays 1p annually) 5.55
GBP 10 Aug 2016 Coventry Building Society 12.125 PIBS 195
GBP 24 Nov 2016 Halifax 13 5/8% Perp. Sub Bonds 214.5
GBP 15 Oct 2019 Halifax Plc 12 PIBS 117
GBP 15 Oct 2019 Halifax Plc 8.75 PIBS 114
GBP 15 Oct 2019 Halifax Plc 9.375 PIBS 158
GBP 15 Oct 2019 Leeds Building Society 13.375 PIBS 211
GBP 15 Oct 2019 Manchester Building Society 6.75 PIBS 15.75
GBP 15 Oct 2019 Manchester Building Society 8 PIBS 18
GBP 10 May 2018 Nationwide 6.024% PIBS (call 6/2/2013 @ 100p) 100
GBP 15 Oct 2019 Nationwide 7.859% PIBS Receipts 122.811
GBP 26 Oct 2016 Nationwide Building Society 6.25 PIBS 107.75
GBP 15 Oct 2019 Nationwide Building Society 7.25 PIBS 109.875
GBP 15 Oct 2019 Nationwide floating rate (6 month LIBOR + 2.4%) 95
GBP 15 Oct 2019 Newcastle Building Society 10.75 PIBS 164
GBP 15 Oct 2019 Newcastle Building Society 12.625 PIBS 190
GBP 15 Oct 2019 Nottingham Building Society 7.875 PIBS 129.75
GBP 15 Oct 2019 OneSavings Bank 6.591% Perp. Sub Bonds (call 7/3/2016 @ 100p) 90.625
GBP 15 Oct 2019 Principality Building Society 7 PIBS 100.531
GBP 15 Oct 2019 Skipton 8 1/2% PIBS 136
GBP 15 Oct 2019 Skipton Building Society 12.875 PIBS 203
GBP 15 Oct 2019 Standard & Chart 8.125% Prefs 134.25
GBP 15 Oct 2019 Ulster Bank 11 3/4% Sub Bonds 169.5
GBP 15 Oct 2019 West Bromwich Building Society 6.15 PIBS 38.5
GBP 28 Mar 2019 Yorkshire 5.649% PIBS (call 27/3/2019 @ 100p) 99.5