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CIBC Investment Solutions – Current Issue
 

CIBC Floating Market Rate GICs due April 5, 2021
Available until April 1, 2019


The CIBC Floating Market Rate GICs (the “GICs”) are Canadian dollar denominated investments issued by Canadian Imperial Bank of Commerce. The GICs entitle you to i) quarterly interest payments during the term of the GICs (the “Coupon Amounts”) equal to the prevailing Benchmark Rate, subject to a specified minimum and maximum rate; and ii) repayment of your Principal Amount at maturity. The list of available GICs and key information is summarized below:

FundSERV Code

Current GICs

Benchmark Rate

Term

Minimum Coupon Rate (per annum)

Maximum Coupon Rate (per annum)

Issue Date

Maturity Date

CBL 2049

CIBC Floating Market Rate GICs

3-month BA Rate

2 Years

2.10%

3.25%

April 5, 2019

April 5, 2021

CBL 4016

CIBC Floating Market Rate GICs

3-month BA Rate

4 Years

2.25%

3.50%

April 5, 2019

April 5, 2023

 

 

 

Interest Calculation

Coupon Amounts will be paid each quarter during the term of the GICs, and will be equal to the following:

 

Principal Amount x Coupon Rate x (Number of Days in the Coupon Period/365) .

 

The Coupon Rate will be equal to the 3-month BA Rate on the first day of each quarterly period (the “Coupon Reset Date”), subject to the specified Minimum Coupon Rate and Maximum Coupon Rate.

The Coupon Rate will be set in advance on the Coupon Reset Date for each quarterly period, with the first Coupon Reset Date occurring on the Issue Date.

The Coupon Amount will be payable on the last day of each quarterly period, with the first Coupon Amount being paid on July 5, 2019.

Regardless of the Coupon Amounts paid during the term of the GICs, you will always receive your Principal Amount at maturity.


A copy of the Offering Document may be obtained by clicking on the link below or contacting your investment advisor.