New Issue: CIBC prices $929,000 five-year buffered notes linked to S&P 500

By Wendy Van Sickle

Columbus, Ohio, Oct. 3 – Canadian Imperial Bank of Commerce priced $929,000 of 0% buffered notes due Sept. 30, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus 118% of the index return.

Investors will receive par if the index falls by up to 15% and will lose 1% for every 1% that it declines beyond 15%.

CIBC World Markets Corp. is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Buffered notes
Underlying index:	S&P 500
Amount:	$929,000
Maturity:	Sept. 30, 2021
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	If the index return is positive, par plus 118% of the index return; par if the index declines by 15% or less; 1% loss for every 1% drop beyond 15%
Initial level:	2,159.93
Pricing date:	Sept. 27
Settlement date:	Sept. 30
Agent:	CIBC World Markets Corp.
Fees:	3.5%
Cusip:	13605WBT7

© 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.