Published on 9/6/2018 in the Prospect News Structured Products Daily.
New Issue: CIBC sells $7.61 million Capped Leveraged Index Return Notes on Stoxx
By Wendy Van Sickle
Columbus, Ohio, Sept. 6 – Canadian Imperial Bank of Commerce priced $7.61 million of 0% Capped Leveraged Index Return Notes due Oct. 25, 2019 linked to the Euro Stoxx 50 index, according to a 424B2 filed with the Securities and Exchange Commission.
The payout at maturity will be par plus double any index gain, capped at 15.82%.
Investors will receive par if the index falls by up to 5% and will lose 1% for every 1% decline beyond 5%.
BofA Merrill Lynch 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: | Euro Stoxx 50
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Amount: | $7,607,370
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Maturity: | Oct. 25, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of any index gain, capped at 15.82%; par if index falls by up to 5%; 1% loss for every 1% decline beyond 5%
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Initial index level: | 3,430.99
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Threshold level: | 3,259.44, 95% of initial level
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Pricing date: | Aug. 30
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Settlement date: | Sept. 7
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Agent: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 13606M433
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