Published on 5/3/2023 in the Prospect News Structured Products Daily.
New Issue: CIBC sells $1.34 million market-linked notes with upside participation on Dow ETF
Chicago, May 3 – Canadian Imperial Bank of Commerce priced $1.34 million of 0% market-linked notes with upside participation to a cap and principal return at maturity due May 3, 2027 linked to the performance of the SPDR Dow Jones Industrial Average ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus the return of the ETF if the fund finishes positive, capped at par plus 33.5%.
Otherwise, investors will receive par.
Wells Fargo Securities, LLC is the agent.
Issuer: | Canadian Imperial Bank of Commerce
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Issue: | Market linked notes – upside participation to a cap and principal return at maturity
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Underlying ETF: | SPDR Dow Jones Industrial Average ETF Trust
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Amount: | $1,335,000
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Maturity: | May 3, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus return if fund ends positive, capped at par plus 33.5%, otherwise, par
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Initial levels: | $338.20
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Pricing date: | April 27
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Settlement date: | May 2
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Agent: | Wells Fargo Securities, LLC
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Fees: | 3.825%
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Cusip: | 13607XGX9
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