Bond Canadian Imperial Bank 0% ( US78015K7E85 ) in USD

Issuer	Canadian Imperial Bank
Market price	99.995 % ▼
Country	Canada
ISIN code	US78015K7E85 ( in USD )
Interest rate	0%
Maturity	17/01/2023 - Bond has expired
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Minimal amount	2 000 USD
Total amount	850 000 000 USD
Cusip	78015K7E8
Detailed description	The Royal Bank of Canada (RBC) is a Canadian multinational financial services company offering personal and commercial banking, wealth management, insurance, and investment banking services globally. A recent development in the fixed-income market concerns the successful maturity and full repayment of a specific bond issued by the Royal Bank of Canada (RBC), a prominent financial institution based in Canada and recognized globally for its extensive banking operations, robust financial standing, and significant presence across various international markets. This particular fixed-income instrument, identified by ISIN US78015K7E85 and CUSIP 78015K7E8, was a U.S. Dollar-denominated obligation with an original issue size totaling $850,000,000, and available for purchase with a minimum transaction size of $2,000. Notably, it was structured as a zero-coupon bond, indicated by its 0% stated interest rate, meaning investors did not receive periodic interest payments but rather realized yield through the difference between its discounted purchase price and full principal repayment at maturity. The bond, which was issued from Canada, traded at a market price of 99.995% of par value as it approached its scheduled maturity date of January 17, 2023. As confirmed, this obligation reached its maturity on the aforementioned date and has since been fully repaid to its holders, thereby demonstrating RBC's consistent adherence to its financial commitments and the inherent reliability of its debt instruments within the capital markets.