Investment Solutions for Municipalities
Rate Structured Notes: StepUp
Callable Notes
CIBC Fixed to Float Notes have an initial term to maturity of 1 year and are
extendible annually at the option of CIBC to a maximum term to maturity of 10 years.
The Notes provide a guaranteed coupon that steps up annually when the Notes are
extended.
Key Features
Provide investors
with a guaranteed
annual coupon that
"steps-up" annually
Coupon Rate
Illustration and Indicative Pricing
2.40%
2.30%
2.20%
2.10%
2.00%
Callable
annually at
the Issuer's
Notes offer a yield
"pick-up" when
option
compared to bonds
of a similar term
100% principal
protection at
maturity
1.90%
1.80%
0
1
2
3 4 5
Year
6 7 8 9
10
Client Positioning
Suitable for investors looking for the certainty of a fixed coupon but who are willing
to potentially extend term in order to achieve a spread over traditional bonds
trading in the market
10 Year StepUp Callable Notes
Term
Coupon
Note Return
Year 1
1.92%
1.92%
Year 2
1.97%
1.94%
Year 3
2.02%
1.97%
Year 4
2.07%
1.99%
Year 5
2.12%
2.02%
Year 6
2.17%
2.04%
Issuer
CIBC
Currency
CAD
Term
10 years
Coupon Frequency
Semi-Annually
Callable
Year 7
2.22%
2.07%
Year 8
2.27%
2.09%
Annually
Year 9
2.32%
2.12%
Year 10
2.37%
2.14%
CIBC
CONFIDENTIAL
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