By Wendy Van Sickle
Columbus, Ohio, Feb. 8 – Canadian Imperial Bank of Commerce priced $30.68 million of 0% capped leveraged notes due March 12, 2024 linked to the performance of the S&P GSCI Excess Return index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index’s return is positive, the payout at maturity will be par plus 4 times the gain, subject to a maximum payout of par plus 36%.
Investors will have full exposure to any index decline.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | Canadian Imperial Bank of Commerce
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| Issue: | Capped leveraged notes
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| Underlying index: | S&P GSCI Excess Return index
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| Amount: | $30.68 million
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| Maturity: | March 12, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 4 times any index gain, capped at par plus 36%; full exposure to loss
|
| Initial level: | 295.1975
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| Pricing date: | Feb. 3
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| Settlement date: | Feb. 10
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.96%
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| Cusip: | 13607XFA0
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