Published on 4/27/2006 in the Prospect News Convertibles Daily.
CIBC prices $100,000 notes linked to basket of eight energy stocks
By Angela McDaniels
Seattle, April 27 - Canadian Imperial Bank of Commerce priced a $100,000 issue of principal-protected notes due Oct. 28, 2010, in the Merits (Medium-term Equity-Related Investment Securities) structure linked to eight energy stocks, according to a 424B5 filing with the Securities and Exchange Commission.
The notes are linked to the performance of the common stocks of BP plc, Chevron Corp., Exxon Mobil Corp., Petroleo Brasilerio SA, Petro-Canada, TransCanada Corp., the American Depositary Receipts of PetroChina Co. Ltd. and the B shares of Royal Dutch Shell plc, each with an equal weight.
Noteholders will receive par plus any positive return on the basket. Investors will receive a minimum of par at maturity.
The basket return will be based on the average of closing values of the basket on 25th of each January, July and October over the life of the notes.
| Issuer: | Canadian Imperial Bank of Commerce
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| Issue: | Merits (Medium-term Equity-Related Investment Securities) principal-protected notes
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| Underlying stocks: | BP plc, Chevron Corp., Exxon Mobil Corp., Petroleo Brasilerio SA, Petro-Canada, TransCanada Corp., PetroChina Co. Ltd., Royal Dutch Shell plc, equally weighted
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| Amount: | $100,000
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| Maturity: | Oct. 28, 2010
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus any positive return on the basket, minimum of par
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| Pricing date: | April 25
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| Settlement date: | April 28
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| Agent: | CIBC World Markets Corp.
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