TORONTO, Aug. 28, 2025 /CNW/ - CIBC (TSX:CM) (NYSE:CM) today announced its intention to redeem all $750 million of its 4.375% Limited Recourse Capital Notes Series 1 (Non-Viability Contingent Capital (NVCC)) (Subordinated Indebtedness) (the "Notes"). In accordance with their terms, the Notes will be redeemed at 100% of their principal amount on September 29, 2025, together with accrued and unpaid interest up to but excluding the redemption date. Interest on the Notes will cease to accrue from and after the redemption date.
In connection with the redemption of the Notes, CIBC will redeem all 750,000 Non-Cumulative 5-Year Fixed Rate Reset Class A Preferred Shares Series 53 (Non-Viability Contingent Capital (NVCC)) that are held by Computershare Trust Company of Canada as trustee of CIBC LRCN Limited Recourse Trust.
The redemption will be financed out of the general corporate funds of CIBC. Notice has been delivered to registered holders of the Notes in accordance with the terms outlined in the trust indenture for the Notes.
About CIBC
CIBC is a leading North American financial institution with 14 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world. Ongoing news releases and more information about CIBC can be found at www.cibc.com/ca/media-centre.
SOURCE CIBC - Investor Relations
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/August2025/28/c8931.html