By Wendy Van Sickle
Columbus, Ohio, June 9 – Canadian Imperial Bank of Commerce priced $30 million of floating-rate notes due June 7, 2028, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is SOFR plus 135 basis points, subject to a floor of 0.1%. Interest is payable quarterly.
The payout at maturity will be par.
CIBC Capital Markets. is the agent.
Issuer: | Canadian Imperial Bank of Commerce
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Issue: | Floating-rate notes
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Amount: | $30 million
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Maturity: | June 7, 2028
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Coupon: | SOFR plus 135 bps, subject to a floor of 0.1%; payable quarterly
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Price: | Par
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Payout at maturity: | Par
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Pricing date: | June 5
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Settlement date: | June 7
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Agent: | CIBC Capital Markets.
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Fees: | 0.8%
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Cusip: | 13607XJE8
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