By William Gullotti
Buffalo, N.Y., Jan. 18 – Canadian Imperial Bank of Commerce priced $4.06 million of 0% Capped Leveraged Index Return Notes due Jan. 31, 2025 linked to the Morningstar Women’s Empowerment index, according to a 424B2 filed with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus double the index gain, capped at par plus 23.25%.
Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
The notes are sustainability issuance, with net proceeds intended to finance and/or refinance eligible assets that satisfy CIBC’s green and/or social issuance eligibility criteria.
BofA Securities, Inc. is the agent.
| Issuer: | Canadian Imperial Bank of Commerce
|
| Issue: | Capped Leveraged Index Return Notes
|
| Underlying index: | Morningstar Women’s Empowerment index
|
| Principal amount: | $4,061,180
|
| Maturity: | Jan. 31, 2025
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 200% of any index gain, capped at par plus 23.25%; par if index declines by 10% or less; otherwise, 1% loss for every 1% that index declines beyond 10%
|
| Initial level: | 1,490.27
|
| Threshold level: | 1,341.24; 90% of initial level
|
| Pricing date: | Jan. 12
|
| Settlement date: | Jan. 20
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 2%
|
| Cusip: | 13607W133
|
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