Published on 3/1/2019 in the Prospect News Structured Products Daily.
New Issue: CIBC prices $7.45 million capped leveraged buffered notes on S&P 500
By Sarah Lizee
Olympia, Wash., March 1 – Canadian Imperial Bank of Commerce priced $7.45 million of 0% capped leveraged notes due March 30, 2020 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 150% of the index return, subject to a maximum settlement amount of $1,183 per $1,000 principal amount of notes. Investors will lose 1% for each 1% decline.
CIBC World Markets Corp. is the agent.
Issuer: | Canadian Imperial Bank of Commerce
|
Issue: | Capped leveraged notes
|
Underlying index: | S&P 500
|
Amount: | $7,445,000
|
Maturity: | March 30, 2020
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | Par plus 150% of any index gain, subject to a maximum settlement amount of $1,183 per $1,000 principal amount of notes; investors will lose 1% for each 1% decline
|
Initial index level: | 2,793.90
|
Pricing date: | Feb. 26
|
Settlement date: | March 5
|
Agent: | CIBC World Markets Corp.
|
Fees: | 0.93%
|
Cusip: | 13605WPZ8
|
© 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.