By Susanna Moon
Chicago, May 17 – Canadian Imperial Bank of Commerce priced $6 million of 0% leveraged buffered notes due May 22, 2020 linked to the S&P MidCap 400 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.5 times any index gain, up to a maximum settlement amount of $1,200.25 for each $1,000 principal amount.
Investors will receive par if the index falls by up to 10% and will lost 1.1111% for each decline beyond the 10% geared buffer.
CIBC World Markets Corp. is the agent.
| Issuer: | Canadian Imperial Bank of Commerce
|
| Issue: | Leveraged buffered notes
|
| Underlying index: | S&P MidCap 400 index
|
| Amount: | $6 million
|
| Maturity: | May 22, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 150% of any index gain, capped at 20.025%; 1.1111% loss for each 1% decline beyond 10%
|
| Initial level: | 1,913.91
|
| Pricing date: | May 8
|
| Settlement date: | May 15
|
| Agent: | CIBC World Markets Corp.
|
| Fees: | 2%
|
| Cusip: | 13605WKZ3
|
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