Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers S > Headlines for S&P 500 index > News item |
CIBC plans digital return notes with 87.5% trigger linked to S&P 500
By Susanna Moon
Chicago, May 12 – Canadian Imperial Bank of Commerce plans to price 0% digital notes due in 17 to 20 months linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
If the index finishes at or above the 87.5% threshold, the payout at maturity will be par plus the maximum settlement amount of between $1,067.30 and $1,079.20 for each $1,000 principal amount of notes.
Otherwise, investors will lose 1.1429% for each 1% decline beyond 12.5%.
CIBC World Markets Corp. is the agent.
The Cusip number is 13605WDB4.
© 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.