Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers C > Headlines for Canadian Imperial Bank of Commerce > News item |
CIBC plans market-linked notes with leveraged upside on S&P 500
By Marisa Wong
Morgantown, W.Va., May 20 – Canadian Imperial Bank of Commerce plans to price 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due June 3, 2021 linked to the S&P 500 index, according to a 424B3 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 150% of any index gain, up to a maximum return of 60% to 65%. The exact cap will be set at pricing.
Investors will receive par if the index falls by up to 15% and will lose 1% for every 1% decline beyond 15%.
Wells Fargo Securities, LLC is the agent.
The notes will price on May 31 and settle on June 3.
The Cusip number is 13605WBN0.
© 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.