{"id":46562,"date":"2024-03-21T19:04:41","date_gmt":"2024-03-22T00:04:41","guid":{"rendered":"https:\/\/prefblog.com\/?p=46562"},"modified":"2024-03-21T19:04:41","modified_gmt":"2024-03-22T00:04:41","slug":"cm-pr-t-to-be-redeemed","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=46562","title":{"rendered":"CM.PR.T To Be Redeemed"},"content":{"rendered":"<p>Canadian Imperial Bank of Commerce <a href=\"https:\/\/cibc.mediaroom.com\/2024-03-21-CIBC-to-redeem-Non-cumulative-Rate-Reset-Class-A-Preferred-Shares-Series-49-NVCC\">has announced<\/a>:<\/p>\n<blockquote><p>its intention to redeem all of its issued and outstanding Non-cumulative Rate Reset Class A Preferred Shares Series 49 (Non-viability contingent capital (NVCC)) (Series 49 shares) (TSX: CM.PR.T), for cash. The redemption will occur on April 30, 2024. The redemption price is $25.00 per Series 49 share.<\/p>\n<p>The $0.325000 quarterly dividend announced on February 29, 2024 will be the final dividend on the Series 49 shares and will be paid on April 29, 2024, covering the period to April 30, 2024, to shareholders of record on March 28, 2024.<\/p>\n<p>Holders of the Series 49 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.<\/p><\/blockquote>\n<p>CM.PR.T was issued as a FixedReset, 5.20%+331, NVCC-compliant, that <a href=\"https:\/\/prefblog.com\/?p=37992\">commenced trading 2019-1-22<\/a> after being <a href=\"http:\/\/prefblog.com\/?p=37929\">announced 2019-1-14<\/a>. It has been tracked by HIMIPref&trade; and is assigned to the FixedReset (discount) subindex.<\/p>\n<p>Thanks to Assiduous Readers <a href=\"https:\/\/prefblog.com\/?p=37992#comment-213367\"><i>niagara<\/i><\/a> and PS for bringing this to my attention!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Canadian Imperial Bank of Commerce has announced: its intention to redeem all of its issued and outstanding Non-cumulative Rate Reset Class A Preferred Shares Series 49 (Non-viability contingent capital (NVCC)) (Series 49 shares) (TSX: CM.PR.T), &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-46562","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/46562","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=46562"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/46562\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=46562"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=46562"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=46562"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}