By Kiku Steinfeld
Chicago, Nov. 14 – Canadian Imperial Bank of Commerce priced $1.25 million of 0% capped leveraged notes due May 30, 2023 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 3 times the gain, subject to a maximum payout of par plus 21.45%.
Investors will have full exposure to any index decline.
CIBC World Markets Corp. is the agent.
Issuer: | Canadian Imperial Bank of Commerce
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Issue: | Capped leveraged notes
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Underlying index: | S&P 500 index
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Amount: | $1.25 million
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Maturity: | May 30, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 3 times any index gain, capped at par plus 21.45%; full exposure to loss
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Initial level: | 4,173.11
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Pricing date: | March 14
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Settlement date: | March 21
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Agent: | CIBC World Markets Corp.
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Fees: | 0%
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Cusip: | 13607X5W3
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