Expanded CDR lineup marks one-year anniversary of industry-first launch
TORONTO, July 26, 2022 /CNW/ - CIBC today announced the addition of seven new Canadian Depositary Receipts ("CDRs"), listed on the NEO Exchange. Introduced one year ago, CIBC now offers 30 CDRs on its platform, providing even more opportunities to invest in global companies – in Canadian dollars.
CDRs eliminate the need to convert Canadian dollars to a foreign currency, and with a built-in notional currency hedge, CDRs mitigate the currency risk associated with global investing.
"As CIBC continues to expand our CDR platform, we're making it easier for Canadian investors to get direct exposure to the world's biggest companies," said Christian Exshaw, Managing Director and Head, CIBC Global Markets and Direct Financial Services. "We're thrilled with the strong response we've had to our CDRs, and are committed to delivering innovative solutions to help investors achieve their ambitions."
The seven new CDRs available for trading on the NEO Exchange are listed below with their NEO Exchange ticker symbols:
- Cisco Canadian Depositary Receipts (CAD Hedged) - CSCO
- Coca-Cola Canadian Depositary Receipts (CAD Hedged) - COLA
- McDonald's Canadian Depositary Receipts (CAD Hedged) - MCDS
- NIKE Canadian Depositary Receipts (CAD Hedged) - NKE
- Starbucks Canadian Depositary Receipts (CAD Hedged) - SBUX
- UnitedHealth Canadian Depositary Receipts (CAD Hedged) - UNH
- Verizon Canadian Depositary Receipts (CAD Hedged) - VZ
These seven will add to the existing lineup of CDRs which are available for trading on the NEO Exchange:
- 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
- Costco Canadian Depositary Receipts (CAD Hedged) - COST
- Goldman Sachs Canadian Depositary Receipts (CAD Hedged) - GS
- Home Depot Canadian Depositary Receipts (CAD Hedged) - HD
- IBM Canadian Depositary Receipts (CAD Hedged) - IBM
- JPMorgan Canadian Depositary Receipts (CAD Hedged) - JPM
- Mastercard Canadian Depositary Receipts (CAD Hedged) - MA
- Meta Canadian Depositary Receipts (CAD Hedged) - MVRS
- Microsoft Canadian Depositary Receipts (CAD Hedged) - MSFT
- Netflix Canadian Depositary Receipts (CAD Hedged) - NFLX
- Nvidia Canadian Depositary Receipts (CAD Hedged) - NVDA
- PayPal Canadian Depositary Receipts (CAD Hedged) – PYPL
- Pfizer Canadian Depositary Receipts (CAD Hedged) - PFE
- Salesforce.com Canadian Depositary Receipts (CAD Hedged) - CRM
- Tesla Canadian Depositary Receipts (CAD Hedged) - TSLA
- 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
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
