Published on 5/1/2020 in the Prospect News Structured Products Daily.
New Issue: CIBC prices $3.14 million buffered notes on S&P 500
By Wendy Van Sickle
Columbus, Ohio, May 1 – Canadian Imperial Bank of Commerce priced $3.14 million of 0% buffered notes due April 30, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus the index gain. Investors will receive par if the index falls by up to 24.5% and will lose 1% for each 1% loss beyond 24.5%.
CIBC World Markets Corp. is the agent.
Issuer: | Canadian Imperial Bank of Commerce
|
Issue: | Buffered notes
|
Underlying index: | S&P 500
|
Amount: | $3,139,000
|
Maturity: | April 30, 2025
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | Par plus any index gain; par if index falls by up to 24.5%; 1% loss for each 1% decline beyond 24.5%
|
Initial level: | 2,878.48
|
Buffer level: | 2,173.25, 75.5% of initial level
|
Pricing date: | April 27
|
Settlement date: | April 30
|
Agent: | CIBC World Markets Corp.
|
Fees: | 3.5%
|
Cusip: | 13605WXG1
|
|
© 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.