New Issue: CIBC sells $6.16 million capped leveraged notes linked to S&P 500

By Marisa Wong

Morgantown, W.Va., Oct. 19 – Canadian Imperial Bank of Commerce priced $6.16 million of 0% capped leveraged notes due March 21, 2019 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 gain, subject to a maximum settlement amount of $1,173.40 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
Issue:	Capped leveraged notes
Underlying index:	S&P 500
Amount:	$6,156,000
Maturity:	March 21, 2019
Coupon:	0%
Price:	Par
Payout at maturity:	If the index return is positive, par plus 3 times the index gain, return capped at 17.34%; full exposure to losses
Initial index level:	2,559.36
Pricing date:	Oct. 17
Settlement date:	Oct. 24
Agent:	CIBC World Markets Corp.
Fees:	None
Cusip:	13605WGJ4

© 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.