New Issue: CIBC sells $3.64 million Capped Leveraged Index Return Notes on copper spot price

By William Gullotti

Buffalo, N.Y., Jan. 31 – Canadian Imperial Bank of Commerce priced $3.64 million of 0% Capped Leveraged Index Return Notes due Feb. 5, 2024 linked to copper, according to a 424B2 filed with the Securities and Exchange Commission.

If the commodity finishes positive, the payout at maturity will be par plus double the gain, capped at par plus 28.5%.

Investors will receive par if the commodity price declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.

BofA Securities, Inc. is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Capped Leveraged Index Return Notes
Underlying commodity:	copper
Principal amount:	$3,643,770
Maturity:	Feb. 5, 2024
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 200% of any gain, capped at par plus 28.5%; par if commodity declines by 10% or less; otherwise, 1% loss for every 1% decline beyond 10%
Initial level:	$9,288.50
Threshold level:	$8,359.65; 90% of initial level
Pricing date:	Jan. 26
Settlement date:	Feb. 2
Agent:	BofA Securities, Inc.
Fees:	1.5%
Cusip:	13608J669

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.