New Issue: CIBC sells $9.44 million Capped Leveraged Index Return Notes on Russell

By Marisa Wong

Morgantown, W.Va., Oct. 30 – Canadian Imperial Bank of Commerce priced $9.44 million of 0% Capped Leveraged Index Return Notes due Oct. 25, 2019 linked to the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.

The payout at maturity will be par plus double any index gain, capped at 15.6%.

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.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Capped Leveraged Index Return Notes
Underlying index:	Russell 2000
Amount:	$9,443,840
Maturity:	Oct. 25, 2019
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 200% of any index gain, capped at 15.6%; par if index falls by up to 10%; 1% loss for every 1% decline beyond 10%
Initial index level:	1,497.459
Threshold level:	1,347.713, 90% of initial level
Pricing date:	Oct. 26
Settlement date:	Nov. 2
Agent:	BofA Merrill Lynch
Fees:	2%
Cusip:	13606M789

© 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.