Published on 9/27/2021 in the Prospect News Structured Products Daily.
New Issue: CIBC sells $7.85 million capped leveraged basket-linked notes
By William Gullotti
Buffalo, N.Y., Sept. 27 – Canadian Imperial Bank of Commerce priced $7.85 million of 0% capped leveraged notes due Oct. 25, 2023 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the Euro Stoxx 50 index with a 36% weight, the FTSE 100 index with a 16% weight, the Topix index with a 29% weight, the Swiss Market index with a 11% weight and the S&P/ASX 200 index with an 8% weight.
If the basket return is positive, the payout at maturity will be par plus triple the basket return, subject to a maximum settlement amount of $1,343.50 per $1,000 principal amount of notes.
Investors will be exposed to any basket decline.
CIBC World Markets Corp. is the agent.
Issuer: | Canadian Imperial Bank of Commerce
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Issue: | Capped leveraged notes
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Underlying indexes: | Euro Stoxx 50 index (36% weight), FTSE 100 index (16% weight), Topix index (29% weight), Swiss Market index (11% weight) and S&P/ASX 200 index (8% weight)
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Amount: | $7,847,000
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Maturity: | Oct. 25, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the basket return is positive, par plus three times the basket gain, return capped at par plus 34.35%; full exposure to losses
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Initial levels: | 4,150.19 for Euro Stoxx, 7,083.37 for FTSE, 2,043.55 for Topix, 11,837.57 for Swiss Market, 7,296.943 for S&P/ASX 200
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Pricing date: | Sept. 22
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Settlement date: | Sept. 29
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Agent: | CIBC World Markets Corp.
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Fees: | None
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Cusip: | 13605W6R7
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