CIBC sets June 29 target redemption date for Merits

By Jennifer Chiou

New York, June 27 - CIBC announced that the target redemption date for its principal-protected target growth redemption notes, which are also known as Merits, will be June 29.

On that date, for each $1,000 principal amount of notes, the company said it will pay $1,150, which includes a $150 index return payment.

The date is based on the official closing value of the second session of the Nikkei 225 index on June 26.

The notes were originally issued on June 27, 2006.

Toronto-based CIBC is a financial institution with more than 11 million personal banking and business customers.

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