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CIBC plans 30- to 33-month capped leveraged buffered notes on S&P 500
By Marisa Wong
Morgantown, W.Va., Jan. 29 – Canadian Imperial Bank of Commerce plans to price 0% capped leveraged buffered notes linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will mature between 30 and 33 months after pricing.
If the index return is positive, the payout at maturity will be par plus 1.1 times the index gain, subject to a maximum settlement amount of $1,166.65 to $1,196.02 per $1,000 principal amount.
If the index falls by up to 20%, the payout will be par. If the index falls by more than 20%, investors will lose 1.25% for every 1% decline beyond the buffer.
CIBC World Markets Corp. is the agent.
The Cusip number is 13605WJF9.
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