to Redeem Tier 1 Notes issued through CIBC Capital Trust TORONTO, Sept. 27, 2021 /CNW/ - CIBC (TSX: CM) (NYSE: CM) today announced that CIBC Capital Trust, a trust wholly-owned by CIBC, intends to redeem all $300 million of its 10.25% CIBC Tier 1 Notes – Series B Due June 30, 2108 (the "Tier 1 - Series B Notes"). In accordance with their terms, the Tier 1 - Series B Notes will be redeemed at 100% of their principal amount on November 1, 2021, together with accrued and unpaid interest up to but excluding the redemption date. Interest on the Tier 1 - Series B Notes will cease to accrue from and after the redemption date.
The redemption will be financed out of the general corporate funds of CIBC. Notice will be delivered to registered holders of the Tier 1 - Series B Notes in accordance with the terms outlined in the short form prospectus for the Tier 1 - Series B Notes.
https://www.newswire.ca/news-releases/cibc-to-redeem-tier-1-notes-issued-through-cibc-capital-trust-865964108.html