Published on 8/2/2022 in the Prospect News Structured Products Daily.
New Issue: CIBC prices $17.68 million of capped Mitts linked to S&P 500
By William Gullotti
Buffalo, N.Y., Aug. 2 – Canadian Imperial Bank of Commerce priced $17.68 million of 0% capped Market Index Target-Term Securities due July 28, 2028 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus any index gain, subject to a maximum return of par plus 57.51%.
If the index falls, the payout will be par.
BofA Securities, Inc. is the underwriter.
Issuer: | Canadian Imperial Bank of Commerce
|
Issue: | Capped Market Index Target-Term Securities
|
Underlying index: | S&P 500 index
|
Amount: | $17,680,150
|
Maturity: | July 28, 2028
|
Coupon: | 0%
|
Price: | Par of $10
|
Payout at maturity: | If index gains, par plus the return capped at 57.51%; par if index falls or is flat
|
Initial level: | 4,072.43
|
Pricing date: | July 28
|
Settlement date: | Aug. 4
|
Underwriter: | BofA Securities, Inc.
|
Fees: | 2.5%
|
Cusip: | 13607W513
|
|
© 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.