New Issue: CIBC prices $3.89 million capped Leveraged Index Return Notes linked to MSCI EM

By Angela McDaniels

Tacoma, Wash., Oct. 28 – Canadian Imperial Bank of Commerce priced $3.89 million of 0% capped Leveraged Index Return Notes due Oct. 29, 2021 linked to the MSCI Emerging Markets index, according to a 424B2 filed with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par of $10 plus 200% of the index return, subject to a maximum return of 21.5%. Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.

BofA Securities, Inc. is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Capped Leveraged Index Return Notes
Underlying index:	MSCI Emerging Markets index
Amount:	$3,891,560
Maturity:	Oct. 29, 2021
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If index return is positive, par plus 200% of index return, subject to maximum return of 21.5%; par if index declines by 10% or less; 1% loss for every 1% that index declines beyond 10%
Initial level:	1,037.41
Threshold level:	933.67, or 90% of initial level
Final level:	Average of index’s closing levels on five trading days ending Oct. 26, 2021
Pricing date:	Oct. 24
Settlement date:	Oct. 31
Agent:	BofA Securities, Inc.
Fees:	2%
Cusip:	13607G518

© 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.