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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 10 Aug 2016 Coventry Building Society 12.125 PIBS 195
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 4 Sep 2017 Co-operative Bank 11% Sub Notes 28
GBP 10 May 2018 Nationwide 6.024% PIBS (call 6/2/2013 @ 100p) 100
GBP 14 Dec 2018 Bank Of Ireland 13.375 PIBS 196.25
GBP 14 Dec 2018 Halifax Plc 12 PIBS 124
GBP 14 Dec 2018 Halifax Plc 8.75 PIBS 124
GBP 14 Dec 2018 Halifax Plc 9.375 PIBS 159.5
GBP 14 Dec 2018 Cheltenham & Gloucester 11 3/4% PIBS 209.683
GBP 14 Dec 2018 Leeds Building Society 13.375 PIBS 198.25
GBP 14 Dec 2018 Manchester Building Society 6.75 PIBS 16
GBP 14 Dec 2018 Manchester Building Society 8 PIBS 22.125
GBP 14 Dec 2018 Nationwide Building Society 7.25 PIBS 106.875
GBP 14 Dec 2018 Newcastle Building Society 10.75 PIBS 157.625
GBP 14 Dec 2018 Newcastle Building Society 12.625 PIBS 186.25
GBP 14 Dec 2018 Nottingham Building Society 7.875 PIBS 121.25
GBP 14 Dec 2018 Principality Building Society 7 PIBS 100.986
GBP 14 Dec 2018 Skipton Building Society 12.875 PIBS 189.5
GBP 14 Dec 2018 West Bromwich Building Society 6.15 PIBS 34.5
GBP 14 Dec 2018 Standard & Chart 8.125% Prefs 122.85
GBP 14 Dec 2018 Nationwide 6.875% PIBS 100.5
GBP 14 Dec 2018 Nationwide 7.859% PIBS Receipts 120.959
GBP 14 Dec 2018 Nationwide floating rate (6 month LIBOR + 2.4%) 106
GBP 14 Dec 2018 OneSavings Bank 6.591% Perp. Sub Bonds (call 7/3/2016 @ 100p) 96.625
GBP 14 Dec 2018 OneSavings Bank 5.9884% Floating Rate Sub 97.5
GBP 14 Dec 2018 Skipton 8 1/2% PIBS 141.5
GBP 14 Dec 2018 Ulster Bank 11 3/4% Sub Bonds 167
GBP 14 Dec 2018 Yorkshire 5.649% PIBS (call 27/3/2019 @ 100p) 100
GBP 14 Dec 2018 Barclays Bank Plc 105.029
GBP 14 Dec 2018 Co-operative Group 11% Final Repayment Notes 20/12/2025 125.125
GBP 14 Dec 2018 Co-operative Group Instalment Repayment Notes 20/12/2025 (pays 1p annually) 6.45