By Marisa Wong
Morgantown, W.Va., April 13 – Canadian Imperial Bank of Commerce priced $23.99 million of 0% Capped Leveraged Index Return Notes due March 29, 2019 linked to a basket of unequally weighted indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket components are the S&P 500 index with a 45% weight, the MSCI EAFE index with a 27.5% weight and the MSCI Emerging Markets index with a 27.5% weight.
If the basket return is positive, the payout at maturity will be par plus double the basket return, subject to a maximum return of 13.9%.
If the basket falls by up to 10%, the payout will be par.
Investors will lose 1% for each 1% decline beyond 10%.
BofA Merrill Lynch is the agent.
| Issuer: | Canadian Imperial Bank of Commerce
|
| Issue: | Capped Leveraged Index Return Notes
|
| Underlying indexes: | S&P 500 index with a 45% weight, MSCI EAFE index with a 27.5% weight and MSCI Emerging Markets index with a 27.5% weight
|
| Amount: | $23,988,180
|
| Maturity: | March 29, 2019
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 200% of any basket gain, capped at 13.9%; par if basket falls by up to 10%; otherwise, 1% loss for every 1% decline beyond 10%
|
| Initial index levels: | 2,368.06 for S&P, 1,802.11 for EAFE, 969.47 for EM
|
| Threshold level: | 90% of initial level
|
| Pricing date: | March 30
|
| Settlement date: | April 6
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 13607R415
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