By Wendy Van Sickle
Columbus, Ohio, Dec. 10 – Canadian Imperial Bank of Commerce priced $45 million of 0% capped leveraged buffered notes due April 15, 2026 linked to the performance of the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than or equal to 135% of the initial level, the payout at maturity will be par plus 51.6% plus 1.19 times the gain of the index above 35%, up to a maximum payout of par plus 63.5%.
If the final index level is less than 135% of the initial level but at least 115% of the initial level, the payout will be par plus 15% plus 1.83 times the gain beyond 15%.
If the final index level is between 105% and 115% of the initial level, the payout will be par plus 15%.
if the final index level is between 90% and 105% of the initial level, the payout will be par plus the product of (the percentage change plus 10%).
Investors will lose 1% for each 1% decline beyond 10%.
The initial index level will be the average of the closing level of the index on each trading day from Dec. 3 to Dec. 15, and the final index level will be the average of the closing level of the index on each trading day from Jan. 9, 2026 to April 10, 2026.
CIBC World Markets Corp. is the agent.
| Issuer: | Canadian Imperial Bank of Commerce
|
| Issue: | Capped leveraged buffered notes
|
| Underlying index: | Dow Jones industrial average
|
| Amount: | $45 million
|
| Maturity: | April 15, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final index level is greater than or equal to 135% of initial level, par plus 51.6% plus 1.19 times gain of index above 35%, up to maximum of par plus 63.5%; if final index level is less than 135% of initial level but at least 115% of initial level, par plus 15% plus 1.83 times gain beyond 15%; if final index level is between 105% and 115% of initial level, par plus 15%; if final index level is between 90% and 105% of initial level, par plus the product of (percentage change plus 10%); exposure to losses beyond 10%
|
| Initial level: | Average of closing level of index on each trading day from Dec. 3 to Dec. 15
|
| Final level: | Average of closing level of index on each trading day from Jan. 9, 2026 to April 10, 2026
|
| Pricing date: | Dec. 7
|
| Settlement date: | Dec. 10
|
| Agent: | CIBC World Markets Corp.
|
| Fees: | 0.125%
|
|
|
| Cusip: | 13607X3N5
|
|
|
|
|
© 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.
