New Issue: CIBC sells $6.82 million leveraged market-linked notes tied to Russell 2000

By Wendy Van Sickle

Columbus, Ohio, Jan. 8 – Canadian Imperial Bank of Commerce priced $6.82 million of 0% market-linked securities with leveraged upside participation to a cap and a fixed percentage buffered downside due Jan. 4, 2021 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 200% of any index gain, subject to a capped return of par plus 9.9%.

Investors will receive par if the index falls by up 7.5% and will lose 1% for every 1% decline in the index beyond the 7.5% buffer.

Wells Fargo Securities, LLC is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside
Underlying index:	Russell 2000 index
Amount:	$6,822,000
Maturity:	Jan. 4, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 200% of any index gain, capped at par plus 9.9%; par if the index falls by up to 7.5%; 1% loss for every 1% decline beyond 7.5% buffer
Initial index level:	1,664.15
Buffer level:	1,539.33875, 92.5% of initial level
Pricing date:	Dec. 30
Settlement date:	Jan. 3
Agent:	Wells Fargo Securities, LLC
Fees:	0.24%
Cusip:	13605WUT6

© 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.