{"id":25528,"date":"2014-06-11T18:46:11","date_gmt":"2014-06-11T23:46:11","guid":{"rendered":"http:\/\/prefblog.com\/?p=25528"},"modified":"2014-06-11T18:46:11","modified_gmt":"2014-06-11T23:46:11","slug":"cm-pr-o-firm-on-immense-volume","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=25528","title":{"rendered":"CM.PR.O Firm On Immense Volume"},"content":{"rendered":"<p>The Canadian Imperial Bank of Commerce <a href=\"http:\/\/micro.newswire.ca\/release.cgi?rkey=2206119380&#038;view=14730-0&#038;Start=&#038;htm=0\">has announced<\/a>:<\/p>\n<blockquote><p> that it has completed the offering of 16 million non-cumulative Rate Reset Class A Preferred Shares Series 39 (the &#8220;Series 39 Shares&#8221;) priced at $25.00 per share to raise gross proceeds of $400 million.<\/p>\n<p>The offering was made through a syndicate of underwriters led by CIBC World Markets Inc. The Series 39 Shares commence trading on the Toronto Stock Exchange today under the ticker symbol CM.PR.O.<\/p>\n<p>The Series 39 Shares were issued under a prospectus supplement dated June 2, 2014, to CIBC&#8217;s short form base shelf prospectus dated March 11, 2014.<\/p><\/blockquote>\n<p>CM.PR.O is a FixedReset, 3.90%+232, <a href=\"http:\/\/prefblog.com\/?p=25434\">announced June 2<\/a>. The issue will be tracked by HIMIPref&trade; and is assigned to the FixedReset subindex.<\/p>\n<p>The issue has had its <a href=\"http:\/\/dbrs.com\/research\/268767\/dbrs-finalizes-provisional-rating-on-cibc-s-non-viability-contingent-capital-preferred-shares-at-pfd-2-stable.html\">DBRS rating confirmed at Pfd-2 [Stable]<\/a>.<\/p>\n<p>CM.PR.O traded 1,912,169 shares today (consolidated exchanges) in a range of 24.95-02 before closing at 25.01-02, 128&#215;258. Vital statistics are:<\/p>\n<div align=\"center\">\n<table border=\"1\">\n<tr>\n<td>CM.PR.O<\/td>\n<td>FixedReset<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2044-06-11<br \/>\nMaturity Price  : 23.16<br \/>\nEvaluated at bid price : 25.01<br \/>\nBid-YTW : 3.81 %<\/td>\n<\/tr>\n<\/table>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Canadian Imperial Bank of Commerce has announced: that it has completed the offering of 16 million non-cumulative Rate Reset Class A Preferred Shares Series 39 (the &#8220;Series 39 Shares&#8221;) priced at $25.00 per share &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-25528","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/25528","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=25528"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/25528\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=25528"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=25528"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=25528"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}