New Issue: CIBC prices $5.06 million capped notes with buffer on Dow

Chicago, March 28 – Canadian Imperial Bank of Commerce priced $5.06 million of 0% capped notes with buffer due April 24, 2026 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus any index gain, up to a maximum return of 46.67%.

If the index falls by up to 15%, investors will receive par.

Investors will be exposed to any index decline beyond 15%.

BofA Securities, Inc. is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Capped notes with buffer
Underlying index:	Dow Jones industrial average
Amount:	$5,061,510
Maturity:	April 24, 2026
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus any index gain, capped at 46.67%; if index falls by up to 15%, par; exposure to any index decline beyond 15% buffer
Initial level:	34,060.36
Threshold value:	28,951.31, 85% of initial value
Pricing date:	April 29, 2021
Settlement date:	May 6, 2021
Agent:	BofA Securities, Inc.
Fees:	2.5%
Cusip:	13607H219

© 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.