Published on 1/4/2019 in the Prospect News Structured Products Daily.
New Issue: CIBC prices $6.18 million market-linked capped leveraged buffered notes on Russell 2000
By Wendy Van Sickle
Columbus, Ohio, Jan. 4 – Canadian Imperial Bank of Commerce priced $6.18 million of 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due Jan. 2, 2020 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 200% of any index gain, up to a maximum settlement amount of $1,145 per $1,000 of notes.
Investors will receive par if the index falls by up to 7.5% and will lose 1% for each 1% decline beyond 7.5%.
Wells Fargo Securities, LLC is the agent.
Issuer: | Canadian Imperial Bank of Commerce
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Issue: | Market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside
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Underlying index: | Russell 2000 index
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Amount: | $6,177,000
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Maturity: | Jan. 2, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of any index gain, subject to maximum settlement amount of $1,145 per $1,000 of notes; par if index falls by up to 7.5%; 1% loss for each 1% decline beyond 7.5%
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Initial level: | 1,337.923
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Threshold level: | 1,237.578775, 92.5% of initial level
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Pricing date: | Dec. 28
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Settlement date: | Jan. 4
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Agent: | Wells Fargo Securities, LLC
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Fees: | 0.24%
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Cusip: | 13605WNW7
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