The new issue from CIBC commenced trading today and on heavy volume of 807,580 shares closed at $24.87-88, 30×100.
CIBC announced that
Following the successful sale of the initially announced
10 million Series 32 Shares, the underwriters exercised an option to purchase
an additional 2 million shares.
curvePrice calculations for it and the comparables previously examined are:
|Curve Prices (and other info) on CM.PR.J and comparables|
|Price due to base-rate||23.05||23.72||23.95||23.17|
|Price due to short-term||-0.47||-0.48||-0.50||-0.48|
|Price due to long-term||1.23||1.26||1.30||1.25|
|Price due to Liquidity||1.43||1.48||1.49||1.48|
|Price due to error||0.04||0.04||0.04||-0.02|
|Price due to Credit Spread (Low)||-0.54||-0.55||-0.56||NA|
Note that due to recalculation of the yield curve, the values for the components of the curve price are not directly comparable to the components previously reported; but, of course, each reported calculation is internally consistent.
This issue has been added to the PerpetualDiscount index – the current composition of this index has been uploaded.