CIBC to redeem subordinated indebtedness
TORONTO, April 9, 2013 /CNW/ - CIBC (TSX: CM) (NYSE: CM) today announced its intention to redeem all $550,000,000 of its 5.15% Medium Term Notes (subordinated indebtedness) due June 6, 2018 (the "Notes"). In accordance with their terms, the Notes will be redeemed at 100% of their principal amount on June 6, 2013, together with accrued and unpaid interest to but excluding the redemption date. Interest on the 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 holders of the Notes in accordance with the terms outlined in the Notes prospectus.
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