New Issue: CIBC sells $460,000 market-linked upside participation notes on S&P

By Taylor Fox

New York, Feb. 22 – Canadian Imperial Bank of Commerce priced $460,000 of 0% market-linked securities with upside participation and contingent downside due Aug. 2, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus any index gain. Investors will receive par if the index falls by up to 15% and will lose 1% for every 1% index decline beyond 15%.

Wells Fargo Securities, LLC is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Market-linked securities with upside participation and contingent downside
Underlying index:	S&P 500 index
Amount:	$460,000
Maturity:	Aug. 2, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any index gain; par if index falls by up to 15%; 1% loss for every 1% index decline beyond 15%
Initial level:	3,787.38
Threshold level:	3,219.273, 85% of initial level
Pricing date:	Jan. 28
Settlement date:	Feb. 2
Agent:	Wells Fargo Securities, LLC
Fees:	2.75%
Cusip:	13605WS77

© 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.