Published on 5/19/2006 in the Prospect News Convertibles Daily.
New Issue: CIBC prices $4 million principal-protected notes linked to 10 stocks
By Jennifer Chiou
New York, May 19 - Canadian Imperial Bank of Commerce priced a $4 million issue of Equity Target Premium Yield Generator Notes due May 22, 2008 linked to a basket of 10 large-cap stocks, according to a 424B5 filing with the Securities and Exchange Commission.
The 10 underlying stocks are Abbott Laboratories, Advanced Micro Devices, Inc., Amgen Inc., Anheuser-Busch Cos., Inc., ConocoPhillips, The Gap, Inc., Oracle Corp., Schlumberger Ltd., Starbucks Corp. and Verizon Communications Inc.
The annual coupon on the notes is the average of the returns on each stock since the pricing date, capped at 10% for each stock. The coupon has a floor of zero.
At maturity, the notes will pay par.
Wilmington Trust Co. is trustee and paying agent.
| Issuer: | Canadian Imperial Bank of Commerce
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| Issue: | Equity Target Premium Yield Generator Notes
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| Amount: | $4 million
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| Underlying basket: | Abbott Laboratories, Advanced Micro Devices, Inc., Amgen Inc., Anheuser-Busch Cos., Inc., ConocoPhillips, The Gap, Inc., Oracle Corp., Schlumberger Ltd., Starbucks Corp., Verizon Communications Inc., equally weighted
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| Maturity: | May 22, 2008
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| Initial prices: | Abbott Laboratories, $41.83; Advanced Micro Devices, Inc., $30.77; Amgen Inc., $68.37; Anheuser-Busch Cos., Inc., $46.27; ConocoPhillips, $63.51; The Gap, Inc., $17.81; Oracle Corp., $13.85; Schlumberger Ltd., $65.93; Starbucks Corp., $36.41; Verizon Communications Inc., $30.81
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| Coupon: | Average return on the 10 stocks since issuance; each individual stock return is capped at 10%, the average has a floor of 0%
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| Price: | Par
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| Payout at maturity: | Par
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| Pricing date: | May 17
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| Settlement date: | May 22
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| Agent: | CIBC World Markets
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| Listing: | "MRS.Z" on American Stock Exchange
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