Published on 7/20/2017 in the Prospect News Structured Products Daily.
New Issue: CIBC sells $4.10 million capped leveraged buffered basket-linked notes
By Marisa Wong
Morgantown, W.Va., July 20 – Canadian Imperial Bank of Commerce priced $4,101,000 of 0% capped leveraged buffered notes due Dec. 20, 2018 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the Euro Stoxx 50 index with a 37% weight, the FTSE 100 index with a 23% weight, the Topix index with a 23% weight, the Swiss Market index with a 9% weight and the S&P/ASX 200 index with an 8% weight.
If the basket return is positive, the payout at maturity will be par plus 1.6 times the basket return, subject to a maximum settlement amount of $1,200 per $1,000 principal amount.
If the basket falls by up to 12.5%, the payout will be par.
If the basket falls by more than 12.5%, investors will lose 1.1429% for every 1% decline beyond the buffer.
CIBC World Markets Corp. is the agent.
| Issuer: | Canadian Imperial Bank of Commerce
|
| Issue: | Capped leveraged buffered notes
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| Underlying indexes: | Euro Stoxx 50 index (37% weight), FTSE 100 index (23% weight), Topix index (23% weight), Swiss Market index (9% weight) and S&P/ASX 200 index (8% weight)
|
| Amount: | $4,101,000
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| Maturity: | Dec. 20, 2018
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If the basket return is positive, par plus 1.6 times the basket gain, return capped at 20%; if basket falls by up to 12.5%, par; if basket falls by more than 12.5%, 1.1429% loss for every 1% decline beyond the buffer
|
| Initial levels: | 3,441.88 for Euro Stoxx, 7,312.72 for FTSE, 1,611.90 for Topix, 8,906.89 for Swiss Market, 5,721.494 for S&P/ASX 200
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| Pricing date: | June 30
|
| Settlement date: | July 10
|
| Agent: | CIBC World Markets Corp.
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| Fees: | None
|
| Cusip: | 13605WDU2
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