New Issue: CIBC prices $33.97 million digital notes linked to index basket

By Marisa Wong

Morgantown, W.Va., Feb. 22 – Canadian Imperial Bank of Commerce priced $33.97 million of 0% digital notes due Aug. 6, 2020 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.

If the basket return is zero or positive, the payout at maturity will be par plus the greater of the basket return and 36.2%. Otherwise, investors will be fully exposed to losses.

CIBC World Markets Corp. is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Digital notes
Underlying basket:	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)
Amount:	$33.97 million
Maturity:	Aug. 6, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	If basket return is zero or positive, par plus greater of basket return and 36.2%; otherwise, full exposure to losses
Initial index levels:	3,389.63 for Euro Stoxx, 7,234.81 for FTSE, 1,719.27 for Topix, 8,917.80 for Swiss Market, 5,908.99 for S&P/ASX
Pricing date:	Feb. 15
Settlement date:	Feb. 23
Agent:	CIBC World Markets Corp.
Fees:	2.47%
Cusip:	13605WJT9

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.