New Issue: CIBC sells $1.84 million market-linked notes on Energy Select fund

By Marisa Wong

Morgantown, W.Va., March 6 – Canadian Imperial Bank of Commerce plans to price 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due Sept. 3, 2020 linked to the Energy Select Sector SPDR fund, according to a 424B3 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 170% of any fund gain, up to a maximum return of 36%.

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

Wells Fargo Securities, LLC is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside
Underlying fund:	Energy Select Sector SPDR fund
Amount:	$1,835,000
Maturity:	Sept. 3, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 170% of any fund gain, capped at 36%; par if the fund falls by up to 15%; 1% loss for each 1% decline beyond 15%
Initial price:	$71.38
Threshold level:	$60.673, 85% of initial price
Pricing date:	Feb. 28
Settlement date:	March 3
Agent:	Wells Fargo Securities LLC
Fees:	3.27%
Cusip:	13605WCE9

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