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CIBC to price two-year market-linked securities tied to Euro Stoxx 50
By Marisa Wong
Morgantown, W.Va., Aug. 28 – 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 Sept. 6, 2019 linked to the Euro Stoxx 50 index, according to a 424B3 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 300% of any index gain, up to a maximum return of 20% to 24%.
Investors will receive par if the index falls by up to 10% and will lose 1% for every 1% decline beyond 10%.
Wells Fargo Securities, LLC is the agent.
The notes will price on Aug. 31.
The Cusip number is 13605WEW7.
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