Published on 5/29/2019 in the Prospect News Structured Products Daily.
New Issue: CIBC sells $485,000 notes on 25 Raymond James Technology top picks
By Wendy Van Sickle
Columbus, Ohio, May 29 – Canadian Imperial Bank of Commerce priced $485,000 of 0% notes linked to Raymond James Technology Top Selections due June 3, 2020, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are linked to an equally weighted basket of 25 common equity securities of entities engaged in the technology sector selected by Raymond James & Associates, Inc. The reference shares are Aptiv plc, Arrow Electronics, Inc., Alibaba Group Holding Ltd., Ciena Corp., Cisco Systems, Inc., CommScope Holding Co., Inc., Cubic Corp., Fidelity National Information Services, Inc., GDS Holdings Ltd., Alphabet Inc., Jabil Inc., Juniper Networks, Inc., Lumentum Holdings Inc., Microsoft Corp., Motorola Solutions, Inc., Netflix, Inc., ServiceNow, Inc., Nvidia Corp., Qualcomm Inc., RingCentral, Inc., EchoStar Corp., Synnex Corp., Spotify Technology SA, AT&T Inc. and T-Mobile US, Inc.
The payout at maturity will be par of $1,000 times 99.05% times the basket level percentage. Because of the 99.05% participation rate, investors will receive less than par if the basket does not gain by at least 0.96%.
CIBC World Markets Corp. is the agent.
| Issuer: | Canadian Imperial Bank of Commerce
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| Issue: | Notes linked to Raymond James Technology Top Selections
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| Underlying basket: | Aptiv plc, Arrow Electronics, Inc., Alibaba Group Holding Ltd., Ciena Corp., Cisco Systems, Inc., CommScope Holding Co., Inc., Cubic Corp., Fidelity National Information Services, Inc., GDS Holdings Ltd., Alphabet Inc., Jabil Inc., Juniper Networks, Inc., Lumentum Holdings Inc., Microsoft Corp., Motorola Solutions, Inc., Netflix, Inc., ServiceNow, Inc., Nvidia Corp., Qualcomm Inc., RingCentral, Inc., EchoStar Corp., Synnex Corp., Spotify Technology SA, AT&T Inc. and T-Mobile US, Inc.; equally weighted
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| Amount: | $485,000
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| Maturity: | June 3, 2020
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| Coupon: | 0%
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| Price: | Par of $1,000
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| Payout at maturity: | Par times 99.05% times the basket return
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| Initial prices: | $67.81 for Aptiv, $65.26 for Arrow, $155.00 for Alibaba, $35.19 for Ciena, $17.45 for CommScope, $54.37 for Cisco, $58.73 for Cubic, $118.74 for Fidelity National, $33.55 for GDS, $1,133.47 for Alphabet, $26.04 for Jabil, $25.19 for Juniper, $44.41 for Lumentum, $126.24 for Microsoft, $150.63 for Motorola, $354.39 for Netflix, $268.95 for ServiceNow, $145.15 for Nvidia, $66.21 for Qualcomm, $121.72 for RingCentral, $43.50 for EchoStar, $94.45 for Synnex, $124.65 for Spotify, $32.72 for AT&T, $77.27 for T-Mobile
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| Pricing date: | May 24
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| Settlement date: | May 29
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| Agent: | CIBC World Markets Corp.
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| Fees: | 0%
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| Cusip: | 136071AF4
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