CIBC to price notes on 19 Raymond James top pick technology stocks

By Marisa Wong

Morgantown, W.Va., Aug. 14 – Canadian Imperial Bank of Commerce plans to price 0% notes linked to Raymond James Technology Top Selections due Aug. 27, 2018, according to a 424B3 filing with the Securities and Exchange Commission.

The notes are linked to a basket of 19 common equity securities or American Depositary Shares of entities in the technology sector selected by Raymond James & Associates, Inc. The reference shares are ACI Worldwide, Inc., Broadcom Ltd., Avnet, Inc., Alibaba Group Holding Ltd., Flex Ltd., FLIR Systems, Inc., Fleetcor Technologies, Inc., Finisar Corp., Alphabet Inc. class A, Instructure, Inc., Lumentum Holdings Inc., Microchip Technology Inc., Microsoft Corp., Motorola Solutions, Inc., ServiceNow, Inc., Nuance Communications, Inc., Orbcomm Inc., RingCentral, Inc. and Roper Technologies, Inc.

Initially, each reference stock will have a roughly 5.2632% weight. If the issuer determines on Aug. 18 that one or more of the reference shares has relatively lower liquidity than the rest of the basket stocks, the issuer may assign a lower weight to those reference shares.

The payout at maturity will be par of $1,000 times 99.05% times the basket level percentage. Because of the 99.05% participation rate, investors will receive less than par if the basket level percentage is less than 100.96%.

For each stock, its initial share price is the average of its average intraday prices on each averaging date – Aug. 18, Aug. 21 and Aug. 22.

CIBC World Markets Corp. is the agent.

The notes will price Aug. 18.

The Cusip number is 13605WEV9.

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