CIBC to price notes on eight Raymond James top pick healthcare stocks

By Marisa Wong

Morgantown, W.Va., March 20 – Canadian Imperial Bank of Commerce plans to price 0% notes linked to Raymond James Healthcare Top Selections due Sept. 26, 2019, according to a 424B3 filing with the Securities and Exchange Commission.

The notes are linked to an equally weighted basket of eight common equity securities of entities in the healthcare industry selected by Raymond James & Associates, Inc. The reference shares are CVS Health Corp., UnitedHealth Group Inc., Abbott Laboratories, Boston Scientific Corp., Mylan NV, Incyte Corp., Vertex Pharmaceuticals Inc., Sage Therapeutics, Inc.

The payout at maturity will be par plus double any basket gain, subject to a maximum return of 30% to 33%. Investors will be fully exposed to any basket decline.

CIBC World Markets Corp. is the agent.

The notes will price on March 23.

The Cusip number is 13605WKD2.

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