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 18 Sep 2018  Nationwide 6.875% PIBS 104.625 
GBP 18 Sep 2018  OneSavings Bank 5.9884% Floating Rate Sub 98.875 
GBP 18 Sep 2018  Nationwide Building Society 7.25 PIBS 109.75 
GBP 18 Sep 2018  Halifax Plc 12 PIBS 126 
GBP 4 Sep 2017  Co-operative Bank 11% Sub Notes 28 
GBP 18 Sep 2018  Nationwide 7.859% PIBS Receipts 124.711 
GBP 18 Sep 2018  Skipton Building Society 12.875 PIBS 204.5 
GBP 18 Sep 2018  Manchester Building Society 6.75 PIBS 19 
GBP 18 Sep 2018  Halifax Plc 9.375 PIBS 166.125 
GBP 18 Sep 2018  Barclays Bank Plc 108.558 
GBP 18 Sep 2018  Manchester Building Society 8 PIBS 25 
GBP 18 Sep 2018  Principality Building Society 7 PIBS 103.191 
GBP 18 Sep 2018  Leeds Building Society 13.375 PIBS 209 
GBP 18 Sep 2018  Yorkshire 5.649% PIBS (call 27/3/2019 @ 100p) 101.5 
GBP 18 Sep 2018  Nottingham Building Society 7.875 PIBS 126 
GBP 10 May 2018  Nationwide 6.024% PIBS (call 6/2/2013 @ 100p) 100 
GBP 18 Sep 2018  Ulster Bank 11 3/4% Sub Bonds 169.5 
GBP 18 Sep 2018  Skipton 8 1/2% PIBS 146 
GBP 18 Sep 2018  Newcastle Building Society 12.625 PIBS 187.5 
GBP 18 Sep 2018  Co-operative Group 11% Final Repayment Notes 20/12/2025 129.091 
GBP 18 Sep 2018  West Bromwich Building Society 6.15 PIBS 36 
GBP 18 Sep 2018  Co-operative Group Instalment Repayment Notes 20/12/2025 (pays 1p annually) 6.25 
GBP 18 Sep 2018  Newcastle Building Society 10.75 PIBS 161 
GBP 18 Sep 2018  Nationwide floating rate (6 month LIBOR + 2.4%) 107 
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 18 Sep 2018  OneSavings Bank 6.591% Perp. Sub Bonds (call 7/3/2016 @ 100p) 97.55 
GBP 18 Sep 2018  Cheltenham & Gloucester 11 3/4% PIBS 221.332 
GBP 18 Sep 2018  Bank Of Ireland 13.375 PIBS 211.25 
GBP 10 Aug 2016  Coventry Building Society 12.125 PIBS 195 
GBP 18 Sep 2018  Standard & Chart 8.125% Prefs 131.5 
GBP 18 Sep 2018  Halifax Plc 8.75 PIBS 124.5