Bond Canadian Imperial Bank 0% ( US78015KLE28 ) in USD

Issuer	Canadian Imperial Bank
Market price	100 % ⇌
Country	Canada
ISIN code	US78015KLE28 ( in USD )
Interest rate	0%
Maturity	02/02/2026
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Minimal amount	1 000 USD
Total amount	4 336 000 USD
Cusip	78015KLE2
Standard & Poor's ( S&P ) rating	N/A
Moody's rating	NR
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. An in-depth analysis of a specific debt instrument reveals the characteristics of a bond bearing ISIN US78015KLE28 and CUSIP 78015KLE2. This security is issued by the Royal Bank of Canada, a prominent global financial institution headquartered in Canada, recognized as the largest bank in the country by market capitalization. RBC operates across a wide spectrum of financial services, including personal and commercial banking, wealth management, insurance, investor services, and capital markets, serving millions of clients worldwide. The bond, denominated in United States Dollars (USD), is presently trading at 100% of its par value. A key feature of this instrument is its 0% interest rate, identifying it as a zero-coupon bond. For such instruments, investor returns typically derive from the difference between the discounted purchase price and the full face value received at maturity, although its current market price at par suggests a unique yield profile from this point forward. The bond is scheduled to mature on February 2, 2026. The total size of this particular issuance is 4,336,000 units, with a minimum purchase quantity set at 1,000 units. A payment frequency of 2 is noted, a parameter commonly associated with the periodicity of coupon disbursements, though for a zero-coupon bond, this does not relate to interest payments. Moody's, the credit rating agency, has designated this specific bond as 'NR', signifying it is Not Rated.