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CIBC plans Capped Leveraged Index Return Notes tied to Euro Stoxx
By Susanna Moon
Chicago, Jan. 5 – Canadian Imperial Bank of Commerce plans to price 0% Capped Leveraged Index Return Notes due January 2018 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 of $10 plus double any index gain, up to a maximum return of 20% to 24%.
Investors will receive par if the index falls by up to 10% and will lose 1% for every 1% decline beyond 10%.
BofA Merrill Lynch is the underwriter.
The notes will price in January and settle in February.
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