Published on 2/1/2018 in the Prospect News Structured Products Daily.
New Issue: CIBC prices $3.39 million capped leveraged notes tied to index basket
By Susanna Moon
Chicago, Feb. 1 – Canadian Imperial Bank of Commerce priced $3.39 million of 0% capped leveraged notes due Sept. 27, 2019 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of 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.
The payout at maturity will be par plus triple any basket gain, up to a maximum settlement amount of $1,570 per $1,000 principal amount.
Investors will be exposed to any losses.
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: | $3,394,000
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Maturity: | Sept. 27, 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 basket gain, capped at 57%; exposure to any losses
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Initial levels: | 3,643.22 for Euro Stoxx, 7,643.43 for FTSE, 1,901.23 for Topix, 9,547.57 for Swiss Market, 6,054.658 for S&P/ASX 200
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Pricing date: | Jan. 24
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Settlement date: | Jan. 31
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Agent: | CIBC World Markets Corp.
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Fees: | None
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Cusip: | 13605WJA0
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