CIBC offers protected note linked to water firms


Canadian bank CIBC has launched a 100% principal-protected note linked to an equally weighted portfolio of 10 listed global water companies. The six-year Water Growth Deposit Notes are also tradable in a secondary market. The companies are Suez SA, Veolia Environment, Danaher Corporation, United Utilities, ITT Corporation, Kelda Group, Geberit AG, Sociedad General de Aguas de Barcelona, AWG and Pennon Group.

Interest is payable at maturity and the return is uncapped.