New Issue: CIBC prices $18.28 million Accelerated Return Notes on basket of ETFs

By Wendy Van Sickle

Columbus, Ohio, Feb. 1 – Canadian Imperial Bank of Commerce priced $18.28 million of 0% Accelerated Return Notes due March 31, 2023 linked to an equally-weighted basket of ETFs, according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of the SPDR Gold trust and the iShares Silver trust.

The payout at maturity will be par of $10 plus 300% of any basket gain, subject to a maximum return of par plus 19.5%. Investors will be exposed to any basket decline.

BofA Securities, Inc. is the underwriter.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Accelerated Return Notes
Underlying funds:	SPDR Gold trust, iShares Silver trust; equally weighted
Amount:	$18,280,740
Maturity:	March 31, 2023
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 300% of any basket gain, capped at par plus 19.5%; exposure to any basket decline
Initial levels:	$167.60 for gold, $21.02 for silver
Pricing date:	Jan. 27
Settlement date:	Feb. 3
Agent:	BofA Securities, Inc.
Fees:	1.75%
Cusip:	13607V291

© 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.