Published on 7/17/2017 in the Prospect News Structured Products Daily.
New Issue: CIBC sells $2.09 million capped leveraged notes on indexes
By Wendy Van Sickle
Columbus, Ohio, July 17 – Canadian Imperial Bank of Commerce priced $2.09 million of 0% capped leveraged notes due Dec. 18, 2018 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the Euro Stoxx 50 index with a 37% weight, the FTSE 100 index with a 23% weight, the Topix index with a 23% weight, the Swiss Market index with a 9% weight and the S&P/ASX 200 index with an 8% weight.
If the basket return is positive, the payout at maturity will be par plus 3 times the basket return, subject to a maximum settlement amount of $1,294 per $1,000 principal amount.
If the basket falls, investors will be fully exposed to the loss.
CIBC World Markets Corp. is the agent.
Issuer: | Canadian Imperial Bank of Commerce
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Issue: | Capped leveraged notes
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Underlying indexes: | Euro Stoxx 50 index (37% weight), FTSE 100 index (23% weight), Topix index (23% weight), Swiss Market index (9% weight) and S&P/ASX 200 index (8% weight)
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Amount: | $2.09 million
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Maturity: | Dec. 18, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the basket return is positive, par plus 3 times the basket gain, return capped at 29.4%; full exposure to any basket decline
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Initial levels: | 3,527.83 for Euro Stoxx, 7,413.44 for FTSE, 1,619.11 for Topix, 9,003.57 for Swiss Market, 5,736.768 for S&P/ASX 200
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Pricing date: | July 13
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Settlement date: | July 20
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Agent: | CIBC World Markets Corp.
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Fees: | None
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Cusip: | 13605WEB3
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