New Issue: CIBC prices $15.1 million of Market Index Target-Term Securities tied to index basket

By William Gullotti

Buffalo, N.Y., Oct. 25 – Canadian Imperial Bank of Commerce priced $15.1 million of 0% Market Index Target-Term Securities due Oct. 27, 2028 tied to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 20% weight, the Nikkei Stock Average index with a 20% weight, the Swiss Market index with a 7.5% weight, the S&P/ASX 200 index with a 7.5% weight and the FTSE China 50 index with a 5% weight.

The payout at maturity will be par of $10 plus 160% of any basket gain.

If the basket falls, the payout will be par.

BofA Securities, Inc. is the underwriter.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Market Index Target-Term Securities
Underlying indexes:	Euro Stoxx 50 index (40% weight), FTSE 100 index (20% weight), Nikkei Stock Average index (20% weight), Swiss Market index (7.5% weight), S&P/ASX 200 index (7.5% weight), FTSE China 50 index (5% weight)
Amount:	$15,102,430
Maturity:	Oct. 27, 2028
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If basket gains, par plus 160% of return; otherwise, par
Initial index levels:	4,090.33 for Stoxx, 7,499.53 for FTSE, 31,430.62 for Nikkei, 10,448.23 for Swiss, 6,981.605 for S&P/ASX, 11,449.13 for FTSE China 50
Pricing date:	Oct. 19
Settlement date:	Oct. 27
Underwriter:	BofA Securities, Inc.
Fees:	2.5%
Cusip:	13608J537

© 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.