Published on 7/13/2017 in the Prospect News Structured Products Daily.
New Issue: CIBC sells $6.36 million of Capped Leveraged Index Return Notes on S&P
By Devika Patel
Knoxville, Tenn., July 13 – Canadian Imperial Bank of Commerce priced $6.36 million of 0% Capped Leveraged Index Return Notes due Dec. 11, 2018 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The payout at maturity will be par plus triple any index gain, up to a maximum payout of $1,186 per $1,000 of notes.
Investors will lose 1% for every 1% decline.
CIBC World Markets is the agent.
Issuer: | Canadian Imperial Bank of Commerce
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Issue: | Capped Leveraged Index Return Notes
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Underlying index: | S&P 500
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Amount: | $6,364,000
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Maturity: | Dec. 11, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 300% of any index gain, subject to maximum payout of $1,186 per $1,000 of notes; 1% loss for every 1% decline
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Initial index level: | 2,425.53
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Pricing date: | July 11
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Settlement date: | July 18
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Agent: | CIBC World Markets
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Fees: | None
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Cusip: | 13605WDZ1
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