CIBC to price Leveraged Index Return Notes linked to index basket

By Sarah Lizee

Olympia, Wash., Dec. 10 – Canadian Imperial Bank of Commerce plans to price 0% Leveraged Index Return Notes due December 2020 linked to an international equity index basket, according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of the Euro Stoxx 50 index with a 40% initial weight, the FTSE 100 index with a 20% initial weight, the Nikkei Stock Average index with a 20% initial weight, the Swiss Market index with a 7.5% initial weight, the S&P/ASX 200 index with a 7.5% initial weight and the Hang Seng index with a 5% initial weight.

If the basket return is positive, the payout at maturity will be par plus 140% to 160% of the basket gain.

If the basket falls by up to 10%, the payout will be par. Investors will be exposed to any basket decline beyond 10%.

BofA Merrill Lynch is the agent.

The notes will price and settle in December.

© 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.