Published on 10/12/2022 in the Prospect News Structured Products Daily.
New Issue: CIBC prices $4.82 million capped leveraged buffered notes on S&P 500
By William Gullotti
Buffalo, N.Y., Oct. 12 – Canadian Imperial Bank of Commerce priced $4.82 million of 0% capped leveraged buffered notes due Feb. 22, 2024 linked to the performance of the S&P 500 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 1.7 times the gain, subject to a maximum payout of par plus 23.919%.
Investors will receive par if the index falls by up to 17.5% and will lose 1.2121% for each 1% decline beyond 17.5%.
CIBC World Markets Corp. is the agent.
Issuer: | Canadian Imperial Bank of Commerce
|
Issue: | Capped leveraged buffered notes
|
Underlying index: | S&P 500 index
|
Amount: | $4,821,000
|
Maturity: | Feb. 22, 2024
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | Par plus 1.7 times any index gain, capped at par plus 23.919%; par if the index falls by up to 17.5%; otherwise, 1.2121% loss for each 1% decline beyond 17.5%
|
Initial level: | 3,744.52
|
Buffer level: | 82.5% of initial level
|
Pricing date: | Oct. 6
|
Settlement date: | Oct. 14
|
Agent: | CIBC World Markets Corp.
|
Fees: | None
|
Cusip: | 13607XCB1
|
|
© 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.