By Taylor Fox
New York, Aug. 19 – Canadian Imperial Bank of Commerce priced $5 million of step-up callable notes due Aug. 19, 2026, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 1% initially, stepping up to 1.1% on Aug. 19, 2024. Interest is payable semiannually.
The notes are callable at par on any Aug. 19 interest payment date, beginning in 2022 and ending on Aug. 19, 2025.
The payout at maturity will be par.
CIBC World Markets Corp. is the agent.
| Issuer: | Canadian Imperial Bank of Commerce
|
| Issue: | Step-up callable notes
|
| Amount: | $5 million
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| Maturity: | Aug. 19, 2026
|
| Coupon: | 1% initially, stepping up to 1.1% on Aug. 19, 2024; interest is payable semiannually
|
| Call: | Callable at par annually between Aug. 19, 2022 and ending on Aug. 19, 2025
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | Aug. 17
|
| Settlement date: | Aug. 19
|
| Agent: | CIBC World Markets Corp.
|
| Fees: | 0.7%
|
| Cusip: | 13605WB75
|
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