Published on 9/19/2023 in the Prospect News Structured Products Daily.
New Issue: CIBC prices $1.06 million market-linked notes tied to Dow
By William Gullotti
Buffalo, N.Y., Sept. 19 – Canadian Imperial Bank of Commerce priced $1.06 million of 0% market-linked notes due Sept. 19, 2028 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.109 times any index gain.
If the index falls, the payout will be par.
UBS Financial Services Inc. and CIBC Capital Markets are the agents.
Issuer: | Canadian Imperial Bank of Commerce
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Issue: | Market-linked notes
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Underlying index: | Dow Jones industrial average
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Amount: | $1,064,000
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Maturity: | Sept. 19, 2028
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 1.109 times any index gain; floor of par
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Initial level: | 34,907.11
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Pricing date: | Sept. 14
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Settlement date: | Sept. 19
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Agents: | UBS Financial Services Inc. and CIBC Capital Markets
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Fees: | None
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Cusip: | 13608M324
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