Published on 8/28/2017 in the Prospect News Structured Products Daily.
New Issue: CIBC sells $455,000 Raymond James Technology Top Selections notes on 19 stocks
By Marisa Wong
Morgantown, W.Va., Aug. 28 – Canadian Imperial Bank of Commerce priced $455,000 of 0% notes linked to Raymond James Technology Top Selections due Aug. 27, 2018, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are linked to an equally weighted basket of 19 common equity securities or American Depositary Shares of entities in the technology sector selected by Raymond James & Associates, Inc. The reference shares are ACI Worldwide, Inc., Broadcom Ltd., Avnet, Inc., Alibaba Group Holding Ltd., Flex Ltd., FLIR Systems, Inc., Fleetcor Technologies, Inc., Finisar Corp., Alphabet Inc. class A, Instructure, Inc., Lumentum Holdings Inc., Microchip Technology Inc., Microsoft Corp., Motorola Solutions, Inc., ServiceNow, Inc., Nuance Communications, Inc., Orbcomm Inc., RingCentral, Inc. and Roper Technologies, Inc.
The payout at maturity will be par of $1,000 times 99.05% times the basket level percentage. Because of the 99.05% participation rate, investors will receive less than par if the basket level percentage is less than 100.96%.
CIBC World Markets Corp. is the agent.
| Issuer: | Canadian Imperial Bank of Commerce
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| Issue: | Notes linked to Raymond James Technology Top Selections
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| Underlying basket: | ACI Worldwide, Inc. (Sumbol: ACIW), Broadcom Ltd. (Symbol: AVGO), Avnet, Inc. (Symbol: AVT), Alibaba Group Holding Ltd. (Symbol: BABA), Flex Ltd. (Symbol: FLEX), FLIR Systems, Inc. (Symbol: FLIR), Fleetcor Technologies, Inc. (Symbol: FLT), Finisar Corp. (Symbol: FNSR), Alphabet Inc., class A (Symbol: GOOGL), Instructure, Inc. (Symbol: INST), Lumentum Holdings Inc. (Symbol: LITE), Microchip Technology Inc. (Symbol: MCHP), Microsoft Corp. (Symbol: MSFT), Motorola Solutions, Inc. (Symbol: MSI), ServiceNow, Inc. (Symbol: NOW), Nuance Communications, Inc. (Symbol: NUAN), Orbcomm Inc. (Symbol: ORBC), RingCentral, Inc. (Symbol: RNG) and Roper Technologies, Inc. (Symbol: ROP); equally weighted
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| Amount: | $455,000
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| Maturity: | Aug. 27, 2018
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| Coupon: | 0%
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| Price: | Par of $1,000
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| Payout at maturity: | Par times 99.05% times the basket level percentage, which is sum of weighted reference share performances
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| Initial price: | For each stock, average of stock’s average intraday prices on each of Aug. 18, Aug. 21 and Aug. 22
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| Final price: | For each stock, sum of (a) average of closing prices on Aug. 20, 2018, Aug. 21, 2018 and Aug. 22, 2018 and (b) dividend amount for that stock
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| Pricing date: | Aug. 18
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| Settlement date: | Aug. 25
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| Agent: | CIBC World Markets Corp.
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| Fees: | None
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| Cusip: | 13605WEV9
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