Published on 12/22/2015 in the Prospect News Structured Products Daily.
New Issue: CIBC sells $15.5 million capped leveraged buffered notes on Euro Stoxx
By Devika Patel
Knoxville, Tenn., Dec. 22 – Canadian Imperial Bank of Commerce priced $15,495,770 of 0% capped leveraged buffered notes due Dec. 22, 2017 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any index gain, up to a maximum settlement amount of $1,228 per $1,000 principal amount.
Investors will receive par if the index falls by up to 10% and will be exposed to any declines beyond 10%.
Barclays is the agent.
Issuer: | Canadian Imperial Bank of Commerce
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Issue: | Capped leveraged buffered notes
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Underlying index: | Euro Stoxx 50
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Amount: | $15,495,770
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Maturity: | Dec. 22, 2017
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus double any index gain, subject to 22.8% maximum return; par if index falls by up to 10%; exposure to any declines beyond 10%
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Initial level: | 3,260.72
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Pricing date: | Dec. 18
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Settlement date: | Dec. 28
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Agent: | Barclays
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Fees: | 2%
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Cusip: | 136069317
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