New Issue: CIBC sells $6.52 million buffered enhanced notes linked to Russell 2000

By Marisa Wong

Morgantown, W.Va., Dec. 18 – Canadian Imperial Bank of Commerce priced $6.52 million of 0% capped leveraged buffered notes due Dec. 17, 2019 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus 1.2 times the index gain, subject to a maximum settlement amount of $1,223.80 per $1,000 principal amount.

If the index falls by up to 10%, the payout will be par. If the index falls by more than 10%, investors will lose 1.1111% for every 1% decline beyond the buffer.

CIBC World Markets Corp. is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Capped leveraged buffered notes
Underlying index:	Russell 2000
Amount:	$6,515,000
Maturity:	Dec. 17, 2019
Coupon:	0%
Price:	Par
Payout at maturity:	If the index return is positive, par plus 1.2 times the index gain, return capped at 22.38%; if index falls by up to 10%, par; if index falls by more than 10%, 1.1111% loss for every 1% decline beyond the buffer
Initial index level:	1,516.117
Pricing date:	Dec. 12
Settlement date:	Dec. 19
Agent:	CIBC World Markets Corp.
Fees:	2%
Cusip:	13605WHJ3

© 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.