By Marisa Wong
Los Angeles, June 19 – Canadian Imperial Bank of Commerce priced $300,000 of 0% capped leveraged barrier notes due June 9, 2022 linked to the Financial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF return is positive, the payout at maturity will be par plus 2 times the ETF gain, capped at par plus 36.2%.
Investors will receive par if the ETF declines by up to 10%.
Investors will be fully exposed to losses if the ETF declines beyond the 90% barrier.
CIBC World Markets Corp. is the agent.
| Issuer: | Canadian Imperial Bank of Commerce
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| Issue: | Capped leveraged barrier notes
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| Underlying ETF: | Financial Select Sector SPDR fund
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| Amount: | $300,000
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| Maturity: | June 9, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 2 times any ETF gain, capped at par plus 36.2%; par if ETF declines by up to 10%; otherwise, 1% loss for each 1% decline
|
| Initial price: | $25.30
|
| Barrier price: | $22.77, 90% of initial price
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| Pricing date: | June 4
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| Settlement date: | June 9
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| Agent: | CIBC World Markets Corp.
|
| Fees: | 2.25%
|
| Cusip: | 13605WYX3
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