Published on 3/28/2022 in the Prospect News Structured Products Daily.
New Issue: CIBC sells $6.78 million Capped Leveraged Index Return Notes on Russell Value
Chicago, March 28 – Canadian Imperial Bank of Commerce priced $6.78 million of 0% Capped Leveraged Index Return Notes due April 24, 2026 linked to the Russell 1000 Value 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 126% of the index return.
Otherwise, investors will be fully exposed to the losses of the index.
BofA Securities, Inc. is the agent.
Issuer: | Canadian Imperial Bank of Commerce
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Issue: | Capped Leveraged Index Return Notes
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Underlying index: | Russell 1000 Value index
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Amount: | $6,781,130
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Maturity: | April 24, 2026
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 126% of any index gain; otherwise, full exposure to losses of index
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Initial level: | 1,564.015
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Pricing date: | April 29, 2021
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Settlement date: | May 6, 2021
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Agent: | BofA Securities, Inc.
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Fees: | 2.5%
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Cusip: | 13607H227
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