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 15 Nov 2018  Nationwide 6.875% PIBS 103.5 
GBP 15 Nov 2018  OneSavings Bank 5.9884% Floating Rate Sub 97.75 
GBP 15 Nov 2018  Nationwide Building Society 7.25 PIBS 107.25 
GBP 15 Nov 2018  Halifax Plc 12 PIBS 125 
GBP 4 Sep 2017  Co-operative Bank 11% Sub Notes 28 
GBP 15 Nov 2018  Nationwide 7.859% PIBS Receipts 122.601 
GBP 15 Nov 2018  Skipton Building Society 12.875 PIBS 197 
GBP 15 Nov 2018  Manchester Building Society 6.75 PIBS 15.875 
GBP 15 Nov 2018  Halifax Plc 9.375 PIBS 164 
GBP 15 Nov 2018  Barclays Bank Plc 106.309 
GBP 15 Nov 2018  Manchester Building Society 8 PIBS 24.75 
GBP 15 Nov 2018  Principality Building Society 7 PIBS 101.914 
GBP 15 Nov 2018  Leeds Building Society 13.375 PIBS 203 
GBP 15 Nov 2018  Yorkshire 5.649% PIBS (call 27/3/2019 @ 100p) 101 
GBP 15 Nov 2018  Nottingham Building Society 7.875 PIBS 124.5 
GBP 10 May 2018  Nationwide 6.024% PIBS (call 6/2/2013 @ 100p) 100 
GBP 15 Nov 2018  Ulster Bank 11 3/4% Sub Bonds 168.75 
GBP 15 Nov 2018  Skipton 8 1/2% PIBS 145.5 
GBP 15 Nov 2018  Newcastle Building Society 12.625 PIBS 186.5 
GBP 15 Nov 2018  Co-operative Group 11% Final Repayment Notes 20/12/2025 126.595 
GBP 15 Nov 2018  West Bromwich Building Society 6.15 PIBS 34.5 
GBP 15 Nov 2018  Co-operative Group Instalment Repayment Notes 20/12/2025 (pays 1p annually) 6.33 
GBP 15 Nov 2018  Newcastle Building Society 10.75 PIBS 158 
GBP 15 Nov 2018  Nationwide floating rate (6 month LIBOR + 2.4%) 106 
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 15 Nov 2018  OneSavings Bank 6.591% Perp. Sub Bonds (call 7/3/2016 @ 100p) 96.875 
GBP 15 Nov 2018  Cheltenham & Gloucester 11 3/4% PIBS 216.176 
GBP 15 Nov 2018  Bank Of Ireland 13.375 PIBS 199.75 
GBP 10 Aug 2016  Coventry Building Society 12.125 PIBS 195 
GBP 15 Nov 2018  Standard & Chart 8.125% Prefs 126.5 
GBP 15 Nov 2018  Halifax Plc 8.75 PIBS 124.5