New Issue: CIBC sells $837,000 leveraged market-linked notes tied to the Dow

By Wendy Van Sickle

Columbus, Ohio, April 15 – Canadian Imperial Bank of Commerce priced $837,000 of 0% market-linked securities with leveraged upside participation to a cap and contingent downside due April 18, 2022 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 150% of any index gain, up to par plus 37%.

Investors will receive par if the index falls by up 15% and will lose 1% for every 1% decline in the index from its initial level if the index falls by more than 15%.

Wells Fargo Securities, LLC is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Market-linked securities with leveraged upside participation to a cap and contingent downside
Underlying index:	Dow Jones industrial average
Amount:	$837,000
Maturity:	April 18, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 150% of any index gain, up to par plus 37%; par if the index falls by up to 15%; full exposure to loss if index falls by more than 15%
Initial index level:	23,719.37
Threshold level:	20,161.4645, 85% of initial level
Pricing date:	April 9
Settlement date:	April 15
Agent:	Wells Fargo Securities, LLC
Fees:	2.47%
Cusip:	13605WWY3

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