By Wendy Van Sickle
Columbus, Ohio, Jan. 9 – Canadian Imperial Bank of Commerce priced $4.48 million of 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due Jan. 4, 2018 linked to the MSCI Emerging Markets 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 200% of the gain, subject to a maximum return of 14.7%.
If the index falls by up to 7.5%, the payout will be par.
If the index falls by more than 7.5%, investors will lose 1% for every 1% decline beyond 7.5%.
BofA Merrill Lynch is the agent.
| Issuer: | Canadian Imperial Bank of Commerce
|
| Issue: | Market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside
|
| Underlying index: | MSCI Emerging Markets
|
| Amount: | $4,482,000
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| Maturity: | Jan. 4, 2018
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the index return is positive, par plus 200% of the gain, subject to maximum return of 14.7%; if the index falls by up to 7.5%, par; if the index falls by more than 7.5%, 1% loss for every 1% decline beyond 7.5%
|
| Initial index level: | 881.72
|
| Pricing date: | Jan. 5
|
| Settlement date: | Jan. 11
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 0.24%
|
| Cusip: | 13605WCB5
|
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