New Issue: CIBC sells $6.06 million two-year capped buffered notes tied to S&P 500

By Susanna Moon

Chicago, Sept. 22 – Canadian Imperial Bank of Commerce priced $6.06 million of 0% capped buffered notes due Sept. 23, 2019 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 any index gain, up to a maximum settlement amount of $1,121 per $1,000 principal amount.

Investors will receive par if the index falls by up to 20% and will lose 1.25% for every 1% decline beyond 20%.

CIBC World Markets Corp. is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Capped buffered notes
Underlying index:	S&P 500
Amount:	$6,056,000
Maturity:	Sept. 23, 2019
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any index gain, capped at 12.1%; if index falls by up to 20%, par; 1.25% loss per 1% drop beyond 20%
Initial level:	2,503.87
Pricing date:	Sept. 18
Settlement date:	Sept. 25
Agent:	CIBC World Markets Corp.
Fees:	1.73%
Cusip:	13605WFT3

© 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.