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CIBC plans market-linked notes with leveraged upside on Euro Stoxx 50
By Wendy Van Sickle
Columbus, Ohio, Sept. 6 – Canadian Imperial Bank of Commerce plans to price 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due April 6, 2020 linked to the Euro Stoxx 50 index, according to a 424B3 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 190% of any index gain, up to a maximum return of 33% to 38%. The exact cap will be set at pricing.
Investors will receive par if the index falls by up to 15% and will lose 1% for every 1% decline beyond 15%.
Wells Fargo Securities, LLC is the agent.
The notes will price on Sept. 30 and settle on Oct. 5.
The Cusip number is 13605WBS9.
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