By Marisa Wong
Morgantown, W.Va., May 23 – Canadian Imperial Bank of Commerce priced $34.09 million of 0% capped leveraged notes due Aug. 23, 2018 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 3 times the index return, subject to a maximum settlement amount of $1,148.80 per $1,000 principal amount.
Investors will be fully exposed to any index decline.
CIBC World Markets Corp. is the agent.
Issuer: | Canadian Imperial Bank of Commerce
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Issue: | Capped leveraged notes
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Underlying index: | S&P 500
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Amount: | $34.09 million
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Maturity: | Aug. 23, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index return is positive, par plus 3 times the index gain, return capped at 14.88%; full exposure to any index decline
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Initial level: | 2,381.73
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Pricing date: | May 19
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Settlement date: | May 26
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Agent: | CIBC World Markets Corp.
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Fees: | 1.13%
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Cusip: | 13605WDH1
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