CIBC plans three-year leveraged return notes tied to Nikkei, Stoxx 50

By Susanna Moon

Chicago, Nov. 4 – Canadian Imperial Bank of Commerce plans to price 0% Leveraged Index Return Notes due November 2019 tied to the worse performing of the Nikkei Stock average index and the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus 200% to 220% any index gain, with the exact participation rate to 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%.

BofA Merrill Lynch is the agent.

The notes will price and settle in November.

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