The seven-year note offers a potential income of 0.54% per month.

Canadian Imperial Bank of Commerce (CIBC) has issued series 93 of its Autocallable Coupon Notes (ISIN: CA13541ZR787) in Canada. At maturity, the product offers 100% capital return if the underlying has not fallen below the 60% barrier The seven-year note is linked to the Solactive Canada Large Cap Equity 40 Decrement AR Index. It pays a contingent coupon of 0.54% per month (6.48% per annum) provided the underlying remains at or above 60% of its initial level on the applicable observation dat