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CIBC plans to price capped leveraged buffered notes linked to S&P 500
By Devika Patel
Knoxville, Tenn., April 7 – Canadian Imperial Bank of Commerce plans to price 18- to 21-month 0% capped leveraged buffered notes linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The payout at maturity will be par plus 150% of any index gain, up to a maximum settlement amount of between $1,199.95 and $1,234.60 per $1,000 of notes.
Investors will receive par if the index falls by 15% or less and will lose 1.1765% for every 1% decline beyond 15%.
The exact maturity date and cap will be set at pricing.
CIBC World Markets is the agent.
The Cusip is 13605WXA4.
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