Skip to main content
  • Register
  • Help
  • Contact us
  • Log out of your HL account

What are Permanent Interest Bearing Shares (PIBS)?

These are a type of instrument issued by UK building societies. Technically they are not bonds and usually carry a degree of subordination (rank below other debt owed by the issuer in the event of default). However, because of their fixed coupons they behave in a manner similar to bonds. Individual issues vary greatly and prospective clients should make sure they read the prospectus from the relevant issuer.

Still need help?

Call us on 0117 900 9000

View opening hours