** Shares of Insignia Financial IFL.AX slip 2.6% to A$4.16, hitting their lowest since January 16

** Insignia declines an early request by National Australia Bank NAB.AX to redeem A$200 mln ($124.28 mln) in subordinated notes

** Rejection to early redeem means IFL will pay a 4% coupon on notes, higher than the previous 1%

** IFL stock up 17.2% YTD

($1 = 1.6093 Australian dollars)

(Reporting by Rishav Chatterjee in Bengaluru)

((Rishav.Chatterjee@thomsonreuters.com))