CM.PR.R To Be Redeemed

Canadian Imperial Bank of Commerce has announced:

its intention to redeem all of its issued and outstanding Non-cumulative Class A Preferred Shares Series 45 (TSX: CM.PR.R) for cash. The redemption will occur on July 29, 2022. The redemption price is $25.00 per Series 45 share.

The $0.275000 quarterly dividend announced on May 26, 2022 will be the final dividend on the Series 45 shares and will be paid on July 28, 2022, covering the period to July 31, 2022, to shareholders of record on June 28, 2022.

Holders of the Series 45 shares should contact the financial institution, broker or other intermediary through which they hold the shares to confirm how they will receive their redemption proceeds.

CM.PR.R is a FixedReset, 4.40%+338, NVCC Compliant issue that commenced trading 2017-6-2 after being announced 2017-05-25. It has been tracked by HIMIPref™ and is currently part of the FixedResets (Discount) subindex.

Thanks to Assiduous Reader CanSiamCyp for bringing this to my attention!

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