CIBC plans Raymond James Healthcare Top Selections notes on 14 stocks

By Sarah Lizee

Olympia, Wash., June 7 – Canadian Imperial Bank of Commerce plans to price 0% notes linked to Raymond James Healthcare Top Selections due June 30, 2020, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are linked to a basket of 14 common equity securities of entities in the healthcare industry selected by Raymond James & Associates, Inc. The reference shares are Becton, Dickinson and Co., Boston Scientific Corp., Gilead Sciences, Inc., Haemonetics Corp., HCA Healthcare, Inc., Intercept Pharmaceuticals, Inc., ICU Medical, Inc., Intuitive Surgical, Inc., Medtronic plc, Omega Healthcare Investors, Inc., Quidel Corp., Stryker Corp., Teleflex Inc. and UnitedHealth Group Inc.

Each reference stock has a 7.1429% weight.

The payout at maturity will be par of $1,000 times 99.05% times the basket level percentage. The basket level percentage is the sum of the weighted reference share performances, which includes dividends paid on the reference shares over the term of the notes. Because of the 99.05% participation rate, investors will receive less than par if the basket does not gain by at least 0.96%.

CIBC World Markets Corp. is the agent.

The notes will price on June 21.

The Cusip number is 136071AK3.

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