Published on 2/3/2016 in the Prospect News Structured Products Daily.
New Issue: CIBC prices $950,000 capped, leveraged, buffered notes on Russell 2000
By Wendy Van Sickle
Columbus, Ohio, Feb. 3 – Canadian Imperial Bank of Commerce priced $950,000 of 0% market linked securities with leveraged upside participation to a cap and buffered downside due Aug. 2, 2018 linked to the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.5 times any index gain up to a maximum return of 31%. The payout will be par if the index falls by up to 10%, and investors will lose 1% for every 1% loss beyond 10%.
Wells Fargo Securities, LLC is the agent.
Issuer: | Canadian Imperial Bank of Commerce
|
Issue: | Leveraged, capped, buffered notes
|
Underlying index: | Russell 2000
|
Amount: | $950,000
|
Maturity: | Aug. 2, 2018
|
Coupon: | 0%
|
Price: | Par of $1,000
|
Payout at maturity: | If the index return is positive, par plus 1.5 times the index return, capped at 31%; par if the index declines by 10% or less; 1% loss for every 1% drop beyond 10%
|
Initial level: | 1,035.381
|
Pricing date: | Jan. 29
|
Settlement date: | Feb. 3
|
Agent: | Wells Fargo Securities, LLC
|
Fees: | 2.67%
|
Cusip: | 13605WBD2
|
|
© 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.