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CIBC to price capped leveraged buffered notes linked to five indexes
By Devika Patel
Knoxville, Tenn., Aug. 21 – Canadian Imperial Bank of Commerce plans to price 22- to 25-month 0% capped leveraged buffered notes linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The exact maturity will be set at pricing.
The basket consists of 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.
The payout at maturity will be par plus 170% of any basket gain, up to a maximum settlement amount that is expected to be between $1,286.28 and $1,336.60 per $1,000 of notes and will be set at pricing.
Investors will receive par if the basket falls by up to 15% and will lose 1.1765% for every 1% decline beyond 15%.
CIBC World Markets is the agent.
The Cusip is 13605WFH9.
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