CIBC plans to price Accelerated Return Notes linked to Facebook

By Sarah Lizee

Olympia, Wash., Sept. 17 – Canadian Imperial Bank of Commerce plans to price 0% Accelerated Return Notes due November 2019 linked to Facebook, Inc. common stock, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus triple any gain, up to a maximum return of 21.5% to 25.5%. The exact cap will be set at pricing.

Investors will lose 1% for each 1% decline.

BofA Merrill Lynch is the agent.

The notes will price in September and settle in October.

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