Published on 12/30/2020 in the Prospect News Structured Products Daily.
New Issue: CIBC prices $7.66 million digital notes linked to Russell 2000
By Cady Vishniac
Detroit, Dec. 30 – Canadian Imperial Bank of Commerce priced $7.66 million of 0% digital notes due Feb. 3, 2022 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is at least negative 10%, the payout at maturity will be $1,100 per $1,000 note. Investors will lose 1.1111% for each 1% index decline beyond 10%.
CIBC World Markets Corp. is the agent.
Issuer: | Canadian Imperial Bank of Commerce
|
Issue: | Digital notes
|
Underlying index: | Russell 2000 index
|
Amount: | $7.66 million
|
Maturity: | Feb. 3, 2022
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If final index level is at least 90% of initial level, $1,100 per $1,000 note; otherwise, 1.1111% loss for each 1% decline beyond 10%
|
Initial level: | 1,978.045
|
Pricing date: | Dec. 17
|
Settlement date: | Dec. 24
|
Agent: | CIBC World Markets Corp.
|
Fees: | 0.88%
|
Cusip: | 13605WN72
|
|
© 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.