Published on 12/5/2017 in the Prospect News Structured Products Daily.
New Issue: CIBC sells $1.83 million capped leveraged buffered notes on MSCI EAFE
By Wendy Van Sickle
Columbus, Ohio, Dec. 5 – Canadian Imperial Bank of Commerce priced $1.83 million of 0% capped leveraged buffered notes due Aug. 12, 2019 linked to the MSCI EAFE index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 160% of any index gain, up to a maximum settlement amount of $1,211.20 per $1,000 of notes.
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 agent.
Issuer: | Canadian Imperial Bank of Commerce
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Issue: | Capped leveraged buffered notes
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Underlying index: | MSCI EAFE
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Amount: | $1,833,000
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Maturity: | Aug. 12, 2019
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | Par plus 160% of any index gain, subject to $1,211.20 maximum settlement amount; par if index falls by up to 10%; 1.1111% loss for each 1% decline beyond 10%
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Initial level: | 2,003.72
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Pricing date: | Dec. 1
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Settlement date: | Dec. 8
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Agent: | CIBC World Markets
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Fees: | 0%
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Cusip: | 13605WHA2
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