CIBC plans to price leveraged buffered notes linked to Russell 2000

By Angela McDaniels

Tacoma, Wash., Nov. 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 May 30, 2018 linked to the Russell 2000 index, according to a 424B3 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus 150% of the index return, subject to a maximum return that is expected to be 25% to 30% and will be set at pricing. Investors will receive par if the index decreases by up to 10% and will lose 1% for every 1% that it declines beyond 10%.

Wells Fargo Securities LLC is the agent.

The notes will price Nov. 24.

The Cusip number is 13605WAZ4.

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