New Issue: CIBC prices $120,000 capped leveraged notes on S&P 500

By Wendy Van Sickle

Columbus, Ohio, Nov. 18 – Canadian Imperial Bank of Commerce priced $120,000 of 0% capped leveraged notes due May 17, 2021 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, capped at par plus 19.5%. Investors will be exposed to any losses.

CIBC World Markets Corp. is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Capped leveraged index-linked notes
Underlying index:	S&P 500
Amount:	$120,000
Maturity:	May 17, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 3 times any index gain, capped at par plus 19.5%; 1% loss for each 1% decline from initial level
Initial index level:	3,087.01
Pricing date:	Nov. 11
Settlement date:	Nov. 18
Agent:	CIBC World Markets Corp.
Fees:	0%
Cusip:	13605WTR2

© 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.