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CIBC plans three-year buffered enhanced return notes on Euro Stoxx 50
New York, May 10 – Canadian Imperial Bank of Commerce plans to price 0% buffered enhanced return notes due May 29, 2020 linked to the Euro Stoxx 50 index, according to a 424B3 filing with the Securities and Exchange Commission.
If the index return is zero or positive, the payout at maturity will be par plus 150% of the index return capped at par plus 65% to 75%. The exact cap will be set at pricing.
If the index falls by up to 10%, the payout will be par.
If the index falls by more than 10%, investors will lose 1% for every 1% decline beyond the threshold level.
Janney Montgomery Scott is the agent.
The notes will price on May 26 and settle on May 31.
The Cusip number is 13605WDE8.
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