Published on 2/12/2024 in the Prospect News Structured Products Daily.
New Issue: CIBC prices $7.69 million Capped Leveraged Index Return Notes on S&P SmallCap 600
By Wendy Van Sickle
Columbus, Ohio, Feb. 12 – Canadian Imperial Bank of Commerce priced $7.69 million of 0% Capped Leveraged Index Return Notes due Feb. 7, 2026 linked to the S&P SmallCap 600 index, according to a 424B2 filed with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus double the index gain, capped at par plus 34.92%.
Investors will have full exposure to any index decline.
BofA Securities, Inc. is the agent.
| Issuer: | Canadian Imperial Bank of Commerce
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| Issue: | Capped Leveraged Index Return Notes
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| Underlying index: | S&P SmallCap 600 index
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| Principal amount: | $7,691,500
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| Maturity: | Feb. 7, 2026
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Par plus 200% of any index gain, capped at par plus 34.92%; full exposure to loss
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| Initial level: | 1,257.53
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| Pricing date: | Feb. 7
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| Settlement date: | Feb. 14
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| Agent: | BofA Securities, Inc.
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| Fees: | 2%
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| Cusip: | 13608J248
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