Published on 10/8/2018 in the Prospect News Structured Products Daily.
New Issue: CIBC sells $1.19 million notes on 14 Raymond James Technology top picks
By Wendy Van Sickle
Columbus, Ohio, Oct. 8 – Canadian Imperial Bank of Commerce priced $1.19 million of 0% notes linked to Raymond James Technology Top Selections due March 25, 2020, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are linked to an equally weighted basket of 14 common equity securities of entities engaged in the technology sector selected by Raymond James & Associates, Inc. The reference shares are Arrow Electronics, Inc., Alibaba Group Holding Ltd., salesforce.com, inc., Facebook, Inc., FLIR Systems, Inc., Instructure, Inc., Lumentum Holdings Inc., Mastercard Inc., Microchip Technology Inc., Microsoft Corp., Pandora Media, Inc., Synnex Corp., VMware, Inc. and Worldpay, Inc.
The payout at maturity will be par of $1,000 times 97.35% times the basket level percentage. Because of the 97.35% participation rate, investors will receive less than par if the basket does not gain by at least 2.73%.
CIBC World Markets Corp. is the agent.
| Issuer: | Canadian Imperial Bank of Commerce
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| Issue: | Notes linked to Raymond James Technology Top Selections
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| Underlying basket: | Arrow Electronics, Inc. (Symbol: ARW), Alibaba Group Holding Ltd. (Symbol: BABA), salesforce.com, inc. (Symbol: CRM), Facebook, Inc. (Symbol: FB), FLIR Systems, Inc. (Symbol: FLIR), Instructure, Inc. (Symbol: INST), Lumentum Holdings Inc. (Symbol: LITE), Mastercard Inc. (Symbol: MA), Microchip Technology Inc. (Symbol: MCHP), Microsoft Corp. (Symbol: MSFT), Pandora Media, Inc. (Symbol: P), Synnex Corp. (Symbol: SNX), VMware, Inc. (Symbol: VMW) and Worldpay, Inc. (Symbol: WP); equally weighted
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| Amount: | $1,193,000
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| Maturity: | March 25, 2020
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| Coupon: | 0%
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| Price: | Par of $1,000
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| Payout at maturity: | Par times 97.35% times the basket return
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| Initial prices: | $77.13 for Arrow, $164.63 for Alibaba, $155.52 for salesforce, $162.93 for Facebook, $61.11 for FLIR, $37.35 for Instructure, $61.50 for Lumentum, $221.90 for Mastercard, $82.75 for Microchip, $114.26 for Microsoft, $9.09 for Pandora, $93.08 for Synnex, $152.09 for VMware, $98.40 for Worldpay
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| Pricing date: | Sept. 21
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| Settlement date: | Sept. 28
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| Agent: | CIBC World Markets Corp.
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| Fees: | 1.5%
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| Cusip: | 136069U25
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