Bond CBIC 0% ( US13605WKV27 ) in USD

Issuer CBIC
Market price 100 %  ▼ 
Country  Canada
ISIN code  US13605WKV27 ( in USD )
Interest rate 0%
Maturity 28/05/2021 - Bond has expired



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Minimal amount 1 000 USD
Total amount 831 000 USD
Cusip 13605WKV2
Standard & Poor's ( S&P ) rating N/A
Moody's rating N/A
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.

**Analysis of CIBC's Recently Matured Bond Issuance** This report provides a detailed overview of a specific bond issuance by Canadian Imperial Bank of Commerce (CIBC) that has recently reached maturity and been redeemed. CIBC, formally known as Canadian Imperial Bank of Commerce, is a leading global financial institution headquartered in Toronto, Canada. It stands as one of the "Big Five" chartered banks in the nation, offering a comprehensive suite of banking, wealth management, and capital markets products and services to over 10 million clients worldwide. With a strong operational presence across North America and international operations, CIBC is recognized for its robust financial performance and commitment to fulfilling its obligations in the global financial markets. The bond in question, identified by ISIN US13605WKV27 and CUSIP 13605WKV2, was a USD-denominated obligation issued from Canada. A distinctive characteristic of this instrument was its 0% interest rate, signifying that it did not provide periodic coupon payments. The total issue size amounted to 831,000 units, reflecting a substantial offering, with a minimum purchase size set at 1,000 units, making it accessible to a range of investors. The bond's definitive maturity date was May 28, 2021. Upon reaching this date, the bond, which had been trading at a market price of 100% leading up to its redemption, was fully paid out. The redemption at 100% of its principal value confirms the successful conclusion of the investment cycle for holders of this particular CIBC issuance. Despite the listed payment frequency of 2 (semi-annual) ? a detail typically associated with coupon distributions ? the 0% interest rate meant that investors received no periodic interest payments; instead, any potential return on this bond would have been realized from the difference between its original purchase price and its par redemption value. The successful redemption at par underscores CIBC's unwavering commitment to honoring its financial obligations in the global debt markets.