New Issue: CIBC sells $3.39 million enhanced return notes on Euro Stoxx 50

By Marisa Wong

Morgantown, W.Va., Jan. 3 – Canadian Imperial Bank of Commerce priced $3.39 million of 0% enhanced return notes due Sept. 28, 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 plus 120% of any gain in the index.

Investors will receive par if the index falls by up to 12% and will lose 1% for each 1% decline below the initial level if the index falls by more than 12%.

CIBC World Markets Corp. is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Enhanced return notes
Underlying index:	Euro Stoxx 50
Amount:	$3.39 million
Maturity:	Sept. 28, 2018
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 120% of any index gain; par if index falls by 12% or less; otherwise, 1% loss per 1% decline below initial level
Initial level:	3,553.39
Barrier level:	3,126.98, 88% of initial level
Pricing date:	Dec. 22
Settlement date:	Dec. 29
Agent:	CIBC World Markets Corp.
Fees:	1%
Cusip:	13605WHM6

© 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.