By Marisa Wong
Morgantown, W.Va., Sept. 18 – Canadian Imperial Bank of Commerce priced $654,000 of 0% capped leveraged buffered notes due May 13, 2019 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund return is positive, the payout at maturity will be par plus 1.5 times the fund return, subject to a maximum settlement amount of $1,195 per $1,000 principal amount.
If the fund falls by up to 12.5%, the payout will be par.
If the fund falls by more than 12.5%, investors will lose 1.1429% for every 1% decline beyond the buffer.
CIBC World Markets Corp. is the agent.
| Issuer: | Canadian Imperial Bank of Commerce
|
| Issue: | Capped leveraged buffered notes
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| Underlying fund: | iShares MSCI Emerging Markets ETF
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| Amount: | $654,000
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| Maturity: | May 13, 2019
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If the fund return is positive, par plus 1.5 times the fund gain, return capped at 19.5%; if fund falls by up to 12.5%, par; if fund falls by more than 12.5%, 1.1429% loss for every 1% decline beyond the buffer
|
| Initial price: | $44.89
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| Pricing date: | Sept. 8
|
| Settlement date: | Sept. 15
|
| Agent: | CIBC World Markets Corp.
|
| Fees: | None
|
| Cusip: | 13605WFS5
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