New Issue: CIBC sells $1.69 million leveraged market-linked notes on index basket

By Sarah Lizee

Olympia, Wash., May 3 – Canadian Imperial Bank of Commerce priced $1.69 million of 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due Nov. 3, 2020 linked to a basket of indexes including the S&P 500 index with a 50% weight and the Euro Stoxx 50 index with a 50% weight, according to a 424B3 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 125% of any basket gain, up to a maximum return of 14%.

Investors will receive par if the basket falls by up to 10% and will lose 1% for every 1% decline beyond 10%.

Wells Fargo Securities, LLC is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside
Underlying basket:	S&P 500 (50% weight), Euro Stoxx 50 (50% weight)
Amount:	$1,689,000
Maturity:	Nov. 3, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 125% of any basket gain, up to a maximum return of 14%; par if the basket falls by up to 10%; 1% loss for every 1% decline beyond 10%
Initial levels:	2,945.83 for S&P, 3,514.62 for Stoxx
Pricing date:	April 30
Settlement date:	May 3
Agent:	Wells Fargo Securities, LLC
Fees:	2.45%
Cusip:	13605WQJ3

© 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.