CIBC to price capped leveraged barrier notes on Financial Select

By Sarah Lizee

Olympia, Wash., June 2 – Canadian Imperial Bank of Commerce plans to price 0% capped leveraged barrier notes due June 9, 2022 linked to the Financial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the fund return is positive, the payout at maturity will be par plus 2 times the fund gain, capped at par plus 36.2%.

Investors will receive par if the fund declines by up to 10%.

Investors will be exposed to any losses if the fund declines beyond the barrier.

CIBC World Markets Corp. is the agent.

The notes will price on June 4.

The Cusip number is 13605WYX3.

© 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.