New Issue: CIBC sells $2.25 million leveraged market-linked notes tied to S&P 500

By Marisa Wong

Los Angeles, May 15 – Canadian Imperial Bank of Commerce priced $2.25 million of 0% market-linked securities with leveraged upside participation and contingent downside due May 5, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 132% of any index gain.

Investors will receive par if the index falls by up 30% and will lose 1% for every 1% decline in the index if it falls by more than 30%.

Wells Fargo Securities, LLC is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Market-linked securities with leveraged upside participation and contingent downside
Underlying index:	S&P 500 index
Amount:	$2,253,000
Maturity:	May 5, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 132% of any index gain; par if the index falls by up to 30%; if index falls by more than 30%, full exposure to losses
Initial index level:	2,912.43
Threshold level:	2,038.701, 70% of initial level
Pricing date:	April 30
Settlement date:	May 5
Agent:	Wells Fargo Securities, LLC
Fees:	4.1%
Cusip:	13605WXU0

© 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.