You don't technically "re-issue" a CD. You either maintenance an existing CD or close and open new CD.
You're very generous in your policy to waive penalties. In my world, if you want to "change" your existing CD you either wait until maturity or you close it, pay the penalty and establish the new CD. (Except for death or disability, evidenced by court order or receipt of disability payments.)
Life without Jesus is like an unsharpened pencil - it has no point.