CIBC plans leveraged buffer market-linked notes on Energy Select SPDR

By Susanna Moon

Chicago, Feb. 27 – Canadian Imperial Bank of Commerce plans to price 0% market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside due Sept. 6, 2022 linked to the Energy Select Sector SPDR Fund, according to a 424B2 filed with the Securities and Exchange Commission.

The payout at maturity will be par plus 150% of any fund gain, up to a maximum return of 45% to 50%.

Investors will receive par if the fund falls by up to 15% and lose 1% for each 1% decline beyond 15%.

Wells Fargo Securities, LLC is the agent.

The notes will price on Feb. 28.

The Cusip number is 13605WPX3.

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