By Wendy Van Sickle
Columbus, Ohio, July 27 – Canadian Imperial Bank of Commerce priced $23.81 million of 0% autocallable leveraged buffered notes due July 26, 2022 tied to the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a call premium of 10.75% if the index closes above 90% of its initial level on July 30, 2021.
The payout at maturity will be par plus 1.5 times any index gain.
Investors will receive par if the index falls by up to 10% and will lose 1.1111% for each 1% decline beyond 10%.
CIBC World Markets is the underwriter.
Issuer: | Canadian Imperial Bank of Commerce
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Issue: | Autocallable leveraged buffered notes
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Underlying index: | Nasdaq-100
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Amount: | $23,813,000
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Maturity: | July 26, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.5 times any index gain; par if index falls by up to 10% and 1.1111% loss for each 1% decline beyond 10%
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Call: | Automatically at par plus 10.75% if the index closes above 90% of its initial level on July 30, 2021
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Initial level: | 10,870.75
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Pricing date: | July 22
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Settlement date: | July 29
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Agent: | CIBC World Markets
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Fees: | 1.73%
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Cusip: | 13605WA50
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