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CIBC plans to sell 13- to 15-month digital notes tied to index basket
By Devika Patel
Knoxville, Tenn., Sept. 17 – Canadian Imperial Bank of Commerce plans to price 13- to 15-month digital notes linked to a basket of indexes, according to an 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 36% weight, the Topix index with a 27% weight, the FTSE 100 index with a 20% weight, the Swiss Market index with a 9% weight and the S&P/ASX 200 index with an 8% weight.
The exact maturity date will be set at pricing.
If the basket return is positive or falls by up to 10%, the payout at maturity will be the maximum settlement amount that is expected to be between $1,062.30 and $1,073.30 per $1,000 of notes and will be set at pricing. Investors will lose 1.1111% for each 1% decline beyond 10%.
CIBC World Markets is the agent.
The Cusip is 13605WMH1.
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