GILTS, BONDS & PIBS

 

Permanent interest-bearing securities (Pibs)

Pibs, which are also known as perpetual subordinated bonds, 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. This allows investors to benefit from a long stream of income flows, but leaves them reliant on the market price when they wish to liquidate their investments.

Pibs are also subordinated debt, ranking lower than deposits and senior bonds in the event of the issuer entering liquidation. Many Pibs also have calls, an option that allows the issuer to repurchase the bond at par. Click on the security name to see more data and price charts.

CurrencyUpdateIssuerPrice
GBP 3 Apr 2020  Nationwide Building Society 7.25 PIBS 96.75 
GBP 3 Apr 2020  Halifax Plc 12 PIBS 105.674 
GBP 4 Sep 2017  Co-operative Bank 11% Sub Notes 28 
GBP 3 Apr 2020  Nationwide 7.859% PIBS Receipts 122.613 
GBP 3 Apr 2020  Skipton Building Society 12.875 PIBS 192.5 
GBP 2 Apr 2020  Manchester Building Society 6.75 PIBS 19.277 
GBP 2 Apr 2020  Halifax Plc 9.375 PIBS 148.25 
GBP 24 Jun 2019  Barclays Bank Plc 100.064 
GBP 3 Apr 2020  Manchester Building Society 8 PIBS 23.943 
GBP 3 Apr 2020  Principality Building Society 7 PIBS 100.325 
GBP 3 Apr 2020  Leeds Building Society 13.375 PIBS 182.5 
GBP 28 Mar 2019  Yorkshire 5.649% PIBS (call 27/3/2019 @ 100p) 99.5 
GBP 3 Apr 2020  Nottingham Building Society 7.875 PIBS 112.259 
GBP 10 May 2018  Nationwide 6.024% PIBS (call 6/2/2013 @ 100p) 100 
GBP 3 Apr 2020  Ulster Bank 11 3/4% Sub Bonds 169 
GBP 3 Apr 2020  Skipton 8 1/2% PIBS 137.42 
GBP 3 Apr 2020  Newcastle Building Society 12.625 PIBS 185.995 
GBP 3 Apr 2020  Co-operative Group 11% Final Repayment Notes 20/12/2025 108.902 
GBP 3 Apr 2020  West Bromwich Building Society 6.15 PIBS 26 
GBP 3 Apr 2020  Co-operative Group Instalment Repayment Notes 20/12/2025 (pays 1p annually) 4.95 
GBP 3 Apr 2020  Newcastle Building Society 10.75 PIBS 155.134 
GBP 3 Apr 2020  Nationwide floating rate (6 month LIBOR + 2.4%) 88.125 
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 3 Apr 2020  OneSavings Bank 6.591% Perp. Sub Bonds (call 7/3/2016 @ 100p) 86.05 
GBP 3 Apr 2020  Cheltenham & Gloucester 11 3/4% PIBS 207.406 
GBP 3 Apr 2020  Bank Of Ireland 13.375 PIBS 210.084 
GBP 10 Aug 2016  Coventry Building Society 12.125 PIBS 195 
GBP 3 Apr 2020  Standard & Chart 8.125% Prefs 109 
GBP 3 Apr 2020  Halifax Plc 8.75 PIBS 107.5