Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers E > Headlines for Euro Stoxx 50 index > News item |
CIBC plans capped Leveraged Index Return Notes on Euro Stoxx 50 index
By Sarah Lizee
Olympia, Wash., Aug. 2 – Canadian Imperial Bank of Commerce plans to price 0% capped Leveraged Index Return Notes due October 2019 tied to the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus double any index gain, subject to a maximum payout of 12.5% to 16.5%. The exact cap will be set at pricing.
Investors will receive par if the index remains flat or falls by up to 5% and will lose 1% for every 1% decline from the initial level if the index falls beyond 5%.
BofA Merrill Lynch is the agent.
The notes will price in August and settle in September.
© 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.