New Issue: CIBC prices $8.2 million Trigger PLUS linked to Stoxx

New York, April 4 – Canadian Imperial Bank of Commerce priced $8.2 million of 0% Trigger PLUS due April 3, 2030 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the return of the index is positive, the payout at maturity will be par plus 226% of the return of the index. Investors will receive par if the return of the index is negative but ends at or above the 65% trigger and will lose 1% for every 1% decline if it ends below the trigger level.

CIBC World Markets Corp. is the agent. Morgan Stanley Wealth Management will act as placement agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Trigger PLUS
Underlying index:	Euro Stoxx 50 index
Amount:	$8,199,000
Maturity:	April 3, 2030
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus 226% of index return; par if index declines but finishes at or above trigger level; 1% loss for every 1% that index declines if it finishes below trigger level
Initial level:	5,083.42
Trigger level:	3,304.223, 65% of initial level
Upside leverage:	226%
Cap:	None
Pricing date:	March 28
Settlement date:	April 4
Agent:	CIBC World Markets Corp. and Morgan Stanley Wealth Management as placement agent
Distributor:	Morgan Stanley Wealth Management
Fees:	3.5%
Cusip:	13607XRD1

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.