Published on 11/13/2019 in the Prospect News Structured Products Daily.
New Issue: CIBC prices $3 million capped leveraged notes linked to basket of tech stocks
By Wendy Van Sickle
Columbus, Ohio, Nov. 13 – Canadian Imperial Bank of Commerce priced $3 million of 0% capped leveraged notes due Dec. 10, 2020 linked to a basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the common stocks of Apple Inc., Amazon.com, Inc., salesforce.com, inc., DocuSign, Inc., ServiceNow, Inc., RingCentral, Inc., Atlassian Corp. plc, Twilio Inc., Veeva Systems Inc., Zendesk, Inc. and Zoom Video Communications, Inc. The stocks are equally weighted.
If the basket return is positive, the payout at maturity will be par plus 150% of the basket return, subject to a maximum return of 23%. If the basket return is negative, investors will have one-to-one downside exposure to the decline.
CIBC World Markets Corp. is the agent.
| Issuer: | Toronto-Dominion Bank
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| Issue: | Capped leveraged notes
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| Underlying basket: | Apple Inc., Amazon.com, Inc., salesforce.com, inc., DocuSign, Inc., ServiceNow, Inc., RingCentral, Inc., Atlassian Corp. plc, Twilio Inc., Veeva Systems Inc., Zendesk, Inc. and Zoom Video Communications, Inc.; equally weighted
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| Amount: | $3 million
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| Maturity: | Dec. 10, 2020
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 150% of any basket gain, capped at $1,230 per $1,000 principal amount; full exposure to any decline in basket
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| Initial levels: | $257.13 for Apple, $1,801.71 for Amazon, $158.15 for salesforce, $66.00 for DocuSign, $241.86 for ServiceNow, $161.96 for Ring, $114.19 for Atlassian, $91.33 for Twilio, $140.68 for Veeva, $70.71 for Zendesk, $66.89 for Zoom
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| Pricing date: | Nov. 5
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| Settlement date: | Nov. 8
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| Agent: | CIBC World Markets Corp.
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| Fees: | 1.75%
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| Cusip: | 13605WTQ4
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