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CIBC to sell Premium Yield Generator Notes linked to 10 stocks
By Jennifer Chiou
New York, Oct. 5 - Canadian Imperial Bank of Commerce plans to price an issue of Premium Yield Generator Notes due Nov. 2, 2009 linked to a basket of 10 large-cap stocks, according to an FWP filing with the Securities and Exchange Commission.
The 10 underlying stocks are Altria Group, Inc., Merck & Co., Inc., Amgen Inc., Starbucks Corp., ConocoPhillips, Sunoco, Inc., Intel Corp., The Hershey Co., Johnson & Johnson and The Southern Co.
The annual coupon on the notes is the average of the returns on each stock since the pricing date, capped at 12% for each stock. The coupon has a floor of zero.
At maturity, the notes will pay par.
The notes are expected to price on Oct. 26 and settle on Oct. 31.
Wilmington Trust Co. will be trustee and paying agent.
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