By Marisa Wong
Los Angeles, Nov. 19 – Canadian Imperial Bank of Commerce priced $20.7 million of 0% capped leveraged buffered notes due Feb. 22, 2022 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 1.5 times any index gain, capped at par plus 12.66%.
Investors will receive par if the index falls by up to 10% and will lose 1.1111% for each 1% index decline beyond 10%.
CIBC World Markets Corp. is the agent.
Issuer: | Canadian Imperial Bank of Commerce
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Issue: | Capped leveraged buffered notes
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Underlying index: | S&P 500
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Amount: | $20.7 million
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Maturity: | Feb. 22, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.5 times any index gain, capped at par plus 12.66%; par if index falls by up to 10%; 1.1111% loss for every 1% index decline beyond 10%
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Initial level: | 3,609.53
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Pricing date: | Nov. 17
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Settlement date: | Nov. 24
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Agent: | CIBC World Markets Corp.
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Fees: | 1.2%
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Cusip: | 13605WL82
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