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Canadian Imperial Bank Of Commerce (Toronto, Ontario) | one Non-cumulative Redeemable Class A Preferred Share, Series 28 and one Non-cumulative Redeemable Class A Preferred Share, Series 29 Purchase Warrant (CM.PRG.CA)
Prospectus excerpt: Canadian Imperial Bank of Commerce (‘‘CIBC’’) is hereby qualifying for distribution (the ‘‘Offering’’) 12,000,000 preferred share units (the ‘‘Units’’), each of which consists of one Non-cumulative Redeemable Class A Preferred Share, Series 28 of CIBC (a ‘‘Series 28 Share’’) and one Non-cumulative Redeemable Class A Preferred Share, Series 29 Purchase Warrant of CIBC (a ‘‘Warrant’’). Except as noted below, the holders of the Series 28 Shares will be entitled to receive fixed non-cumulative preferential cash dividends payable, as and when declared by the board of directors of CIBC (the ‘‘Board of Directors’’). Dividends shall be payable at a rate of $0.54 per Series 28 Share per annum until October 31, 2004. The initial dividend, payable October 28, 2004, will be $0.199565 per Series 28 Share, based on an anticipated closing date of June 17, 2004. Cash dividends payable from November 1, 2004 in respect of the Series 28 Shares, if declared, shall be reduced to $0.08 per Series 28 Share per annum, and shall be payable on the 28th day of January, April, July and October in each year. See ‘‘Details of the Offering—Description of the Series 28 Shares—Dividends’’. Full Prospectus PDF », CM.CA Page »
| Series: | 28,29 | | Alternate symbology: | CM-G.CA, CM-PG.CA, CMprG.CA | | Redeemable?: | Yes | | Call Date: | 5/1/2014 (Now Trading Post Call Date) | | Perpetual?: | Yes | | Cumulative?: | No | | Conversion Ratio: | The holder of a Series 28 Share will have the right, subject to applicable law and any necessary regulatory approvals, to convert on November 1, 2004, February 1, 2005 or May 1, 2005, such Series 28 Share into 0.4 of a fully-paid and freely-tradeable Non-cumulative Redeemable Class A Preferred Share, Series 29 (a ‘‘Series 29 Share’’) of CIBC, provided such holder concurrently exercises one Warrant. The concurrent exercise of one Warrant together with a payment of $15.00 per Warrant will entitle the holder to acquire 0.6 of a fully-paid and freely-tradeable Series 29 Share. A Series 28 Share cannot be converted into 0.4 of a fully-paid and freely-tradeable Series 29 Share without the concurrent exercise of a Warrant and a Warrant cannot be exercised without the concurrent conversion of a Series 28 Share into 0.4 of a fully-paid and freelytradeable Series 29 Share. A Warrant may not be separated from the related Series 28 Share forming a Unit. Consequently, the conversion of one Series 28 Share, the concurrent exercise of one Warrant and a payment of $15.00 will entitle the holder of a Unit to receive one fully-paid and freely-tradeable Series 29 Share. All conversion rights of the holder of a Series 28 Share that have not been exercised for any reason by 5:00 p.m. (Toronto time) on May 1, 2005 (the ‘‘Expiry Time’’) will terminate and all Warrants that have not been exercised for any reason by the Expiry Time will be void and of no effect. See ‘‘Details of the Offering—Description of the Series 28 Shares’’ and ‘‘Details of the Offering—Description of the Warrants’’. | | Shares Offered: | 12000000 | | Overallotment: | 400,000 | | Liquidation Preference: | $10 | | Original Coupon: | 5.40% | | Pay Period: | Quarterly | | Pay Dates: | 28-Jan, 28-Apr, 28-Jul, 28-Oct | | CDx3 Compliance Rating: |
Learn CM.PRG.CA's Rating
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Canadian Imperial Bank of Commerce is a financial institution. Co.'s business units are: Canadian Personal and Business Banking, which provides financial advice, services and solutions; Canadian Commercial Banking and Wealth Management, which provides banking and wealth management services, as well as asset management services; United States Commercial Banking and Wealth Management, which provides commercial banking and private wealth services, as well as personal and small business banking services; and Capital Markets, which provides global markets products and services, investment banking advisory and execution, corporate banking solutions and research. Preferreds: CM.PRD.CA, CM.PRE.CA, CM.PRG.CA, CM.PRK.CA, CM.PRL.CA, CM.PRM.CA
Open the CM.CA Information Page »
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| Name: |
Canadian Imperial Bank Of Commerce (Toronto, Ontario) |
| Website: |
www.cibc.com |
| Sector: |
Banking & Savings |
| Number of ETFs Holding CM.CA: |
2 (see which ones) |
| Total Market Value Held by ETFs: |
$51,558,104 |
| Total Market Capitalization: |
$37,323,000,000 |
| % of Market Cap. Held by ETFs: |
0.14% |
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