Bond CBIC 0% ( US13605W6U04 ) in USD

Issuer	CBIC
Market price	94.6 % ▼
Country	Canada
ISIN code	US13605W6U04 ( in USD )
Interest rate	0%
Maturity	01/10/2026
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Minimal amount	1 000 USD
Total amount	1 000 000 USD
Cusip	13605W6U0
Detailed description	CIBC is a leading North American financial institution offering a wide range of financial products and services to personal and business clients, including banking, wealth management, and capital markets. This financial article details a specific fixed-income instrument, identified by its Type: Bond, ISIN: US13605W6U04, and CUSIP: US13605W6U0. The issuer of this bond is the Canadian Imperial Bank of Commerce (CIBC), a globally significant financial institution and one of Canada's "Big Five" banks, renowned for its extensive operations across retail banking, wealth management, and capital markets, solidifying its position as a key player in the global financial landscape. Although issued from Canada, this particular bond is denominated in USD, and it is currently observed trading at a market price of 94.6% of its par value. A distinctive feature of this instrument is its stated interest rate of 0%, characterizing it as a zero-coupon bond; investor returns are thus realized from the discount at which it is acquired, with full principal repayment occurring at maturity. The maturity date for this bond is set for October 1, 2026. The total size of this bond issuance is $1,000,000, with a specified minimum purchase size of $1,000. While a payment frequency of 2 is indicated, this primarily refers to the singular principal payment at the bond's maturity given its zero-coupon nature.