NatWest NWBD is 9% nom yield, a Cumulative (must pay) Perpetual Pref , recently ex-div.
Co-Op 42TE is 11% nom yield, is guaranteed by Co-Op group not just Co-Op bank,
EOD buy prices (per iDealing)
Current price of NWBD is 128, giving yield of approx 7.03%
Current price of 42TE is 112.5, giving yield of approx 9.77%
Recent price for Co-Op has fallen by over 10p following resignation of Sutherland and prospective departure of Myners. But, will they go bust? I suspect not. Therefore I will take that risk in preference to the NWBD this time.