New Issue: CIBC prices $17.13 million one-year Accelerated Return Notes linked to Apple

By Wendy Van Sickle

Columbus, Ohio, Aug. 15 – Canadian Imperial Bank of Commerce priced $17.13 million of 0% Accelerated Return Notes due Aug. 31, 2018 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus triple any stock price gain, up to a maximum return of 20.7%. Investors will be exposed to any stock price decline.

BofA Merrill Lynch is the underwriter.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Accelerated Return Notes
Underlying stock:	Apple Inc.
Amount:	$17,133,150
Maturity:	Aug. 31, 2018
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 300% of any stock gain, capped at 20.7%; exposure to any stock decline
Initial level:	$157.31
Pricing date:	Aug. 10
Settlement date:	Aug. 18
Underwriters:	BofA Merrill Lynch
Fees:	1.75%
Cusip:	13606M862

© 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.