Published on 5/1/2018 in the Prospect News Structured Products Daily.
New Issue: CIBC sells $17.12 million capped leveraged buffered notes on indexes
By Marisa Wong
Morgantown, W.Va., May 1 – Canadian Imperial Bank of Commerce priced $17.12 million of 0% capped leveraged buffered notes due June 29, 2020 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 2.5 times the basket return, subject to a maximum settlement amount of $1,491.25 per $1,000 principal amount.
If the basket falls by up to 10%, the payout will be par.
If the basket falls by more than 10%, investors will lose 1.1111% 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
|
| 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: | $17,121,000
|
| Maturity: | June 29, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the basket return is positive, par plus 2.5 times the basket gain, return capped at 49.125%; if basket falls by up to 10%, par; if basket falls by more than 10%, 1.1111% loss for every 1% decline beyond the buffer
|
| Initial levels: | 3,506.03 for Euro Stoxx, 7,421.43 for FTSE, 1,772.13 for Topix, 8,835.03 for Swiss Market, 5,910.772 for S&P/ASX 200
|
| Pricing date: | April 26
|
| Settlement date: | May 3
|
| Agent: | CIBC World Markets Corp.
|
| Fees: | 2%
|
| Cusip: | 13605WKU4
|
|
|
© 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.
