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CIBC to price leveraged buffered notes linked to Euro Stoxx 50 index
By Angela McDaniels
Tacoma, Wash., July 3 – Canadian Imperial Bank of Commerce plans to price 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due Aug. 5, 2019 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 300% of the gain, subject to a maximum return that is expected to be 20% to 24% and will be set at pricing. Investors will receive par if the index decreases by up to 10% and will lose 1% for every 1% that the index may decline beyond 10%.
Wells Fargo Securities LLC is the agent.
The notes will price July 31.
The Cusip number is 13605WDV0.
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