Published on 4/29/2020 in the Prospect News Structured Products Daily.
New Issue: CIBC sells $32.28 million Accelerated Return Notes on gold ETF
By Sarah Lizee
Olympia, Wash., April 29 – Canadian Imperial Bank of Commerce priced $32.28 million of 0% Accelerated Return Notes due June 25, 2021 linked to the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any ETF gain, up to a maximum return of 54.9%. Investors will be exposed to any ETF decline.
BofA Securities, Inc. is the underwriter.
Issuer: | Canadian Imperial Bank of Commerce
|
Issue: | Accelerated Return Notes
|
Underlying ETF: | VanEck Vectors Gold Miners ETF
|
Amount: | $32,283,050
|
Maturity: | June 25, 2021
|
Coupon: | 0%
|
Price: | Par of $10
|
Payout at maturity: | Par plus 300% of any ETF gain, capped at 54.9%; exposure to any ETF decline
|
Initial index level: | $33.42
|
Final index level: | Average of ETF’s closing levels on five trading days ending June 22, 2021
|
Pricing date: | April 23
|
Settlement date: | April 30
|
Underwriter: | BofA Securities, Inc.
|
Fees: | 2%
|
Cusip: | 13607H862
|
|
|
© 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.