Chicago, Nov. 13 – Canadian Imperial Bank of Commerce priced $1 million of 0% leveraged barrier notes due July 31, 2023 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 1.41 times the index gain.
Investors will receive par if the index declines by up to 15%.
And, investors will be exposed to any losses beyond the 15% barrier.
CIBC World Markets Corp. is the agent.
Issuer: | Canadian Imperial Bank of Commerce
|
Issue: | Leveraged barrier notes
|
Underlying index: | S&P 500
|
Amount: | $1 million
|
Maturity: | July 31, 2023
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | Par plus 1.41 times any index gain; par if index declines by up to 15%; 1% loss for each 1% decline from initial level if index declines beyond 15%
|
Initial index level: | 3,022.55
|
Barrier level: | 2,569.17, 85% of initial level
|
Pricing date: | Oct. 28
|
Settlement date: | Oct. 31
|
Agent: | CIBC World Markets Corp.
|
Fees: | 0.6%
|
Cusip: | 13605WTK7
|
|
© 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.