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CIBC plans capped Leveraged Index Return Notes linked to Russell 2000
By Marisa Wong
Morgantown, W.Va., Oct. 13 – Canadian Imperial Bank of Commerce plans to price 0% capped Leveraged Index Return Notes due October 2019 linked to the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus double any index gain, subject to a maximum return of 13% to 17%. The exact cap will be set at pricing.
Investors will receive par if the index falls by up to 10% and will lose 1% for every 1% decline beyond 10%.
BofA Merrill Lynch is the agent.
The notes will price in October and settle in November.
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