CIBC introduces additional Canadian Depositary Receipts ("CDRs")
Expanded CDR lineup provides more opportunities for Canadians to invest in global companies
TORONTO, March 28, 2023 /CNW/ - CIBC today announced the addition of six new Canadian Depositary Receipts ("CDRs"), now listed on the NEO Exchange.
With a total of 41 now available in the market, CDRs make it easy to invest in many of the world's largest companies – in Canadian dollars. Offered at a fraction of the price per share of the underlying reference share, and with a built-in notional currency hedge, CDRs provide investors with affordable access to foreign stocks while mitigating the currency risk associated with global investing.
"As a Canadian-industry first, the expansion of our CDR platform allows direct exposure to some of the world's biggest companies while hedging currency risk." said Christian Exshaw, Managing Director and Head, CIBC Global Markets and Direct Financial Services. "With a continued strong reception from investors since inception, we are committed to developing innovative, market-based solutions to help our clients achieve their ambitions."
The six new CDRs available for trading on the NEO Exchange are listed below with their NEO Exchange ticker symbols:
Boeing Canadian Depositary Receipts (CAD Hedged) – BA
Chevron Canadian Depositary Receipts (CAD Hedged) – CHEV
Citigroup Canadian Depositary Receipts (CAD Hedged) - CITI
Exxon Mobil Canadian Depositary Receipts (CAD Hedged) - XOM
Intel Canadian Depositary Receipts (CAD Hedged) – INTC
Uber Canadian Depositary Receipts (CAD Hedged) - UBER
These six will add to the existing lineup of CDRs which are available for trading on the NEO Exchange:
AbbVie Canadian Depositary Receipts (CAD Hedged) – ABBV
Advanced Micro Devices Canadian Depositary Receipts (CAD Hedged) - AMD
Alphabet Canadian Depositary Receipts (CAD Hedged) - GOOG
Amazon.com Canadian Depositary Receipts (CAD Hedged) - AMZN
Apple Canadian Depositary Receipts (CAD Hedged) - AAPL
Bank of America Canadian Depositary Receipts (CAD Hedged) - BOFA
Berkshire Hathaway Canadian Depositary Receipts (CAD Hedged) – BRK
Cisco Canadian Depositary Receipts (CAD Hedged) - CSCO
Coca-Cola Canadian Depositary Receipts (CAD Hedged) - COLA
Costco Canadian Depositary Receipts (CAD Hedged) - COST
CVS Health Canadian Depositary Receipts (CAD Hedged) – CVS
Goldman Sachs Canadian Depositary Receipts (CAD Hedged) - GS
Home Depot Canadian Depositary Receipts (CAD Hedged) - HD
Honeywell Canadian Depositary Receipts (CAD Hedged) - HON
IBM Canadian Depositary Receipts (CAD Hedged) - IBM
JPMorgan Canadian Depositary Receipts (CAD Hedged) - JPM
Mastercard Canadian Depositary Receipts (CAD Hedged) - MA
McDonald's Canadian Depositary Receipts (CAD Hedged) - MCDS
Meta Canadian Depositary Receipts (CAD Hedged) - META
Microsoft Canadian Depositary Receipts (CAD Hedged) – MSFT
Netflix Canadian Depositary Receipts (CAD Hedged) – NFLX
NIKE Canadian Depositary Receipts (CAD Hedged) - NKE
Nvidia Canadian Depositary Receipts (CAD Hedged) - NVDA
PayPal Canadian Depositary Receipts (CAD Hedged) – PYPL
Pfizer Canadian Depositary Receipts (CAD Hedged) - PFE
Procter & Gamble Canadian Depositary Receipts (CAD Hedged) - PG
Salesforce.com Canadian Depositary Receipts (CAD Hedged) - CRM
Starbucks Canadian Depositary Receipts (CAD Hedged) - SBUX
Tesla Canadian Depositary Receipts (CAD Hedged) – TSLA
UnitedHealth Canadian Depositary Receipts (CAD Hedged) – UNH
UPS Canadian Depositary Receipts (CAD Hedged) - UPS
Verizon Canadian Depositary Receipts (CAD Hedged) - VZ
Visa Canadian Depositary Receipts (CAD Hedged) - VISA
Walt Disney Canadian Depositary Receipts (CAD Hedged) - DIS
Walmart Canadian Depositary Receipts (CAD Hedged) - WMT
The Prospectus Supplement for these latest Series of CDRs has been filed on SEDAR at www.sedar.com. For more information about CDRs, please visit https://cdr.cibc.com.
About CIBC
CIBC is a leading North American financial institution with 13 million personal banking, business, public sector and institutional clients. Across Personal and Small Business Banking, Commercial Banking and Wealth Management, and Capital Markets businesses, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world. Ongoing news releases and more information about CIBC can be found at www.cibc.com/ca/media-centre.
SOURCE CIBC
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