By Wendy Van Sickle
Columbus, Ohio, Feb. 1 – Canadian Imperial Bank of Commerce priced $10 million of step-up callable notes due Jan. 29, 2036, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 1.5% initially, stepping up to 1.75% on Jan. 29, 2026, to 2% on Jan. 29, 2030, to 2.25% on Jan. 29, 2033 and to 3% on Jan. 29, 2035.
Interest is payable semiannually.
The notes are callable at par on any Jan. 29 interest payment date.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Canadian Imperial Bank of Commerce
|
| Issue: | Step-up callable notes
|
| Amount: | $10 million
|
| Maturity: | Jan. 29, 2036
|
| Coupon: | 1.5% initially, stepping up to 1.75% on Jan. 29, 2026, to 2% on Jan. 29, 2030, to 2.25% on Jan. 29, 2033 and to 3% on Jan. 29, 2035; interest is payable semiannually
|
| Price: | Par
|
| Call: | Callable at par annually on Jan. 29 of each year
|
| Payout at maturity: | Par
|
| Pricing date: | Jan. 27
|
| Settlement date: | Jan. 29
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1.5%
|
| Cusip: | 13605WU25
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
