By Wendy Van Sickle
Columbus, Ohio, March 27 – Canadian Imperial Bank of Commerce priced $7.56 million of 0% buffered return enhanced notes due March 28, 2019 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is zero or positive, the payout at maturity will be par plus 200% of the index return, subject to a maximum return of 32.5%.
If the index falls by up to 15%, the payout will be par.
If the index falls by more than 15%, investors will lose 1.17647% for every 1% decline beyond the buffer.
BNP Paribas Securities Corp. is the agent.
Issuer: | Canadian Imperial Bank of Commerce
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Issue: | Buffered return enhanced notes
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Underlying index: | Euro Stoxx 50
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Amount: | $7,556,000
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Maturity: | March 28, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 2 times index gain up to 32.5% maximum return; par if index falls by up to 15%; 1.17647% loss for every 1% decline beyond 15%
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Initial level: | 3,452.18
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Pricing date: | March 23
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Settlement date: | March 28
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Agent: | BNP Paribas Securities Corp.
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Fees: | 0.45%
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Cusip: | 13605WCP4
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