CIBC plans 36-month market-linked notes tied to Financial Select SPDR

By Susanna Moon

Chicago, Oct. 14 – Canadian Imperial Bank of Commerce plans to price 0% market-linked securities – autocallable with fixed percentage buffered downside due Nov. 4, 2019 linked to the Financial Select Sector SPDR fund, according to a 424B3 filing with the Securities and Exchange Commission.

The notes will be called at par plus an annual call premium of 6.3% to 7.3% if the fund closes at or above its initial level on Nov. 3, 2017, Nov. 5, 2018 or Oct. 28, 2019.

The payout at maturity will be par unless the fund falls by more than 10%, in which case investors will lose 1% for every 1% decline beyond 10%.

Wells Fargo Securities, LLC is the agent.

The notes will price on Oct. 31 and settle on Nov. 3.

The Cusip number is 13605WBV2.

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