New Issue: CIBC prices $11.52 million trigger autocallable notes on S&P 500

Chicago, June 2 – Canadian Imperial Bank of Commerce priced $11.52 million of 0% trigger autocallable notes due June 5, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be automatically called at par plus 10.16% per year if the index closes at or above the initial level on any quarterly observation date starting after six months.

If the notes are not called and the index finishes at or above the downside threshold level, 70% of the initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final level is less than the initial level.

UBS Financial Services Inc. and CIBC Capital Markets are the agents.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Trigger autocallable notes
Underlying index:	S&P 500 index
Amount:	$11,524,320
Maturity:	June 5, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	Par unless index finishes below downside threshold, in which case 1% loss for each 1% decline from initial level
Call:	Automatically at par plus 10.16% per year if index closes at or above initial level on any quarterly observation date starting after six months, including the final observation date
Initial index level:	4,179.83
Downside threshold:	2,925.88, 70% of initial level
Pricing date:	May 31
Settlement date:	June 5
Agents:	UBS Financial Services Inc. and CIBC Capital Markets
Fees:	1.5%
Cusip:	13608M803

© 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.