Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers C > Headlines for Canadian Imperial Bank of Commerce > News item |
CIBC to price market plus notes linked to S&P 500 via SG Americas
By Angela McDaniels
Tacoma, Wash., Feb. 24 - Canadian Imperial Bank of Commerce plans to price 0% market plus non-principal-protected notes due Sept. 26, 2016 linked to the S&P 500 index, according to a 424B3 filing with the Securities and Exchange Commission.
SG Americas Securities, LLC is the agent.
A trigger event will occur if the index's closing level declines below the trigger level, 75% of the initial level, during the life of the notes.
If a trigger event does not occur, the payout at maturity will be par plus the greater of the index return and zero.
If a trigger event does occur, the payout will be par plus the index return. If that return is negative, investors will receive less than par.
The notes will price March 21 and settle March 26.
The Cusip number is 13605WAC5.
© 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.