New Issue: CIBC prices $18 million capped leveraged notes on S&P 500

By Wendy Van Sickle

Columbus, Ohio, June 30 – Canadian Imperial Bank of Commerce priced $18 million of 0% market-linked securities—leveraged upside participation to a cap and 1-to-1 downside exposure due July 23, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus 3 times the index gain, capped at par plus 17.5%. Investors will lose 1% for each 1% loss.

Wells Fargo Securities, LLC is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Market-linked securities—leveraged upside participation to a cap and 1-to-1 downside exposure
Underlying index:	S&P 500
Amount:	$18 million
Maturity:	July 23, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 3 times any index gain, capped at par plus 17.5%; 1% loss for each 1% decline
Initial level:	3,124.74
Pricing date:	June 26
Settlement date:	June 30
Agent:	Wells Fargo Securities, LLC
Fees:	1.86%
Cusip:	13605WZH7

© 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.