Published on 3/2/2018 in the Prospect News Structured Products Daily.
New Issue: CIBC sells $3.46 million market-linked notes on Euro Stoxx 50
By Wendy Van Sickle
Columbus, Ohio, March 2 – Canadian Imperial Bank of Commerce priced $3.46 million of 0% market-linked securities with leveraged upside participation to a cap and contingent downside due Sept. 5, 2019 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 300% of any index gain, up to a maximum gain of 20%.
Investors will receive par if the index falls by up to 10% and will lose 1% for every 1% decline by more than 10%.
Wells Fargo Securities, LLC is the agent.
Issuer: | Canadian Imperial Bank of Commerce
|
Issue: | Market-linked securities with leveraged upside participation to a cap and contingent downside
|
Underlying index: | Euro Stoxx 50
|
Amount: | $3,459,000
|
Maturity: | Sept. 5, 2019
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | Par plus 300% of any index gain, up to 20% maximum gain; par if the index falls by up to 10%; 1% loss for every 1% decline beyond 10%
|
Initial index level: | 3,438.96
|
Threshold level: | 3,095.064, 90% of initial level
|
Pricing date: | Feb. 28
|
Settlement date: | March 5
|
Agent: | Wells Fargo Securities, LLC
|
Fees: | 2.55%
|
Cusip: | 13605WJP7
|
|
|
|
© 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.