Published on 9/5/2017 in the Prospect News Structured Products Daily.
New Issue: CIBC prices $7.72 million leveraged buffered notes linked to Euro Stoxx 50
By Angela McDaniels
Tacoma, Wash., Sept. 5 – Canadian Imperial Bank of Commerce priced $7.72 million of 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due Sept. 6, 2019 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 300% of the gain, subject to a maximum return of 22%. Investors will receive par if the index decreases by up to 10% and will lose 1% for every 1% that the index may decline beyond 10%.
Wells Fargo Securities LLC is the agent.
Issuer: | Canadian Imperial Bank of Commerce
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Issue: | Market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside
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Underlying index: | Euro Stoxx 50
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Amount: | $7,718,000
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Maturity: | Sept. 6, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 300% of any index gain, up to 22% maximum return; par if index declines by 10% or less; 1% loss for every 1% that index may decline beyond 10%
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Initial index level: | 3,421.47
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Threshold level: | 3,079.323, 90% of initial level
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Pricing date: | Aug. 31
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Settlement date: | Sept. 6
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Agent: | Wells Fargo Securities LLC
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Fees: | 2.61%
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Cusip: | 13605WEW7
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