New Issue: CIBC prices $1.46 million capped leveraged buffered notes on S&P 500

By William Gullotti

Buffalo, N.Y., Aug. 22 – Canadian Imperial Bank of Commerce priced $1.46 million of 0% capped leveraged buffered index-linked notes due Jan. 27, 2025 linked to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index’s return is positive, the payout at maturity will be par plus 150% of the gain, subject to a maximum payout of par plus 17.64%.

Investors will receive par if the index falls by up to 15% and will lose 1.1765% for each 1% decline beyond 15%.

CIBC World Markets Corp. is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Capped leveraged buffered index-linked notes
Underlying index:	S&P 500 index
Amount:	$1,455,000
Maturity:	Jan. 27, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 150% of any index gain, capped at par plus 17.64%; par if the index falls by up to 15%; otherwise, 1.1765% loss for each 1% decline beyond 15%
Initial level:	4,370.36
Buffer level:	85% of initial level
Pricing date:	Aug. 17
Settlement date:	Aug. 24
Agent:	CIBC World Markets Corp.
Fees:	1.11%
Cusip:	13607XMA2

© 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.