New Issue: CIBC prices $7.43 million market-linked step-up notes on Euro Stoxx 50

By Susanna Moon

Chicago, Dec. 29 – Canadian Imperial Bank of Commerce priced $7.43 million of 0% market-linked step-up notes due Dec. 19, 2019 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes at or above the step-up level – 128.3% of the initial level – the payout at maturity will be par of $10 plus the gain.

If the index gains by up to the step-up level, the payout will be par plus the step-up payment of 28.3%.

Investors will be exposed to any losses.

BofA Merrill Lynch is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Market-linked step-up notes
Underlying index:	Euro Stoxx 50
Amount:	$7,427,490
Maturity:	Dec. 19, 2019
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If the index finishes at or above step-up level, par plus gain; if index gains by up to step-up level, par plus 28.3%; otherwise, 1% loss per 1% decline
Initial index level:	3,570.78
Step-up value:	4,581.31, 128.3% of initial level
Pricing date:	Dec. 21
Settlement date:	Dec. 29
Agent:	BofA Merrill Lynch
Fees:	2%
Cusip:	13606M722

© 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.