Published on 11/3/2015 in the Prospect News Structured Products Daily.
New Issue: CIBC prices $26.54 million Accelerated Return Notes linked to S&P 500
By Susanna Moon
Chicago, Nov. 3 – Canadian Imperial Bank of Commerce priced $26.54 million of 0% Accelerated Return Notes due Oct. 27, 2017 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 triple any index gain, up to a maximum return of 17.7%.
Investors will be exposed to any losses.
BofA Merrill Lynch is the underwriter.
Issuer: | Canadian Imperial Bank of Commerce
|
Issue: | Accelerated Return Notes
|
Underlying index: | S&P 500
|
Amount: | $26,538,600
|
Maturity: | Oct. 27, 2017
|
Coupon: | 0%
|
Price: | Par of $10
|
Payout at maturity: | Par plus 300% of any index gain, capped at 17.7%; exposure to any losses
|
Initial level: | 2,089.41
|
Pricing date: | Oct. 29
|
Settlement date: | Nov. 5
|
Underwriters: | BofA Merrill Lynch
|
Fees: | 2%
|
Cusip: | 136069366
|
|
|
© 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.