Published on 3/2/2023 in the Prospect News Structured Products Daily.
New Issue: CIBC sells $3.16 million capped market-linked notes with principal return on Dow
By William Gullotti
Buffalo, N.Y., March 2 – Canadian Imperial Bank of Commerce priced $3.16 million of 0% market-linked notes — upside participation to a cap and principal return at maturity due March 2, 2027 linked to the Dow Jones industrial average, according to a 424B2 filing with the Notes and Exchange Commission.
If the index finishes positive, the payout at maturity will be par plus the index gain, subject to a maximum payout of par plus 33%
Otherwise, investors will receive par.
Wells Fargo Notes, LLC is the agent.
Issuer: | Canadian Imperial Bank of Commerce
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Issue: | Market-linked notes — upside participation to a cap and principal return at maturity
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Underlying index: | Dow Jones industrial average
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Amount: | $3,158,000
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Maturity: | March 2, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any index gain, capped at 33%; otherwise, par
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Initial level: | 32,889.09
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Pricing date: | Feb. 27
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Settlement date: | March 2
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Underwriter: | Wells Fargo Notes, LLC
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Fees: | 3.82%
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Cusip: | 13607XFC6
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