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CIBC Announces Notice of Redemption of Floating Rate Subordinated Capital Debentures Due 2085
CIBC Announces Notice of Redemption of Floating Rate Subordinated Capital Debentures Due 2085 ...
About this update from Canadian Imperial Bank Of Commerce
[{"type":"text","content":"\n\n\n\n CIBC Announces Notice of Redemption of Floating Rate Subordinated Capital Debentures Due 2085\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n TORONTO\n \n\n ,\n \n\n Jan. 22, 2025\n \n\n /CNW/ - CIBC (TSX: CM) (NYSE: CM) announced today that it will redeem in full its Floating Rate Subordinated Capital Debentures due 2085 (the \"Debentures\"). CIBC has given notice to the holders of the Debentures that it will redeem the full\n \n US$9,750,000\n \n outstanding principal amount of the Debentures on\n \n February 28, 2025\n \n (the \"Redemption Date\").\n \n\n\n\n\n\n\n\n\n The Debentures will be redeemed on the Redemption Date for the aggregate amount of\n \n US$10,011,865.50\n \n , representing a redemption price of (i)\n \n US$1,000\n \n for each\n \n US$1,000\n \n principal amount, and (ii) all accrued and unpaid interest to but excluding the Redemption Date.\n \n\n Pursuant to the terms of the trust indenture governing the Debentures, CIBC has received approval from the Office of the Superintendent of Financial Institutions to redeem all of the Debentures.\n \n\n Beneficial owners of the Debentures are encouraged to contact their investment dealer if they have any questions about this redemption.\n \n\n\n A Note About Forward-Looking Statements\n \n\n\n From time to time, we make written or oral forward-looking statements within the meaning of certain securities laws, including in this press release, in other filings with Canadian securities regulators or the U.S. Securities and Exchange Commission and in other communications. These statements include, but are not limited to, statements about the redemption of the Debentures. Forward-looking statements are subject to inherent risks and uncertainties that may be general or specific. A variety of factors, many which are beyond our control, could cause actual results to differ materially from the expectations expressed in any of our forward-looking statements, including general business and economic conditions worldwide; amendments to, and interpretations of, risk-b...