Published on 2/14/2022 in the Prospect News Structured Products Daily.
New Issue: CIBC prices $7.57 million capped leveraged buffered notes on MSCI EAFE index
Chicago, Feb. 14 – Canadian Imperial Bank of Commerce priced $7.47 million of 0% capped leveraged buffered notes due May 24, 2023 linked to the performance of the MSCI EAFE index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index’s return is positive, the payout at maturity will be par plus 1.3 times the gain, capped at a maximum payout of par plus 23.4%.
Investors will receive par if the index falls by up to 12.5% and will lose 1.1429% for each 1% decline beyond 12.5%.
CIBC World Markets Corp. is the agent.
Issuer: | Canadian Imperial Bank of Commerce
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Issue: | Capped leveraged buffered notes
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Underlying index: | MSCI EAFE index
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Amount: | $7,569,000
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Maturity: | May 24, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.3 times any index gain, capped at par plus 23.4%; par if the index falls by up to 12.5%; otherwise, 1.1429% loss for each 1% decline beyond 12.5%
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Initial level: | 2,271.94
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Buffer level: | 87.5% of initial level
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Pricing date: | April 20, 2021
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Settlement date: | April 27, 2021
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Agent: | CIBC World Markets Corp.
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Fees: | None
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Cusip: | 13605W3J8
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