New Issue: CIBC sells $2.43 million leveraged market-linked notes on Russell 2000

By Marisa Wong

Morgantown, W.Va., April 20 – Canadian Imperial Bank of Commerce priced $2.43 million of 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due April 4, 2022 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 130% of any index gain, subject to a maximum return of 36%.

Investors will receive par if the index 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 with leveraged upside participation to a cap and fixed percentage buffered downside
Underlying index:	Russell 2000 index
Amount:	$2,425,000
Maturity:	April 4, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 130% of any index gain, subject to a maximum return of 36%; par if the index falls by up to 15%; 1% loss for each 1% decline beyond 15%
Initial value:	1,529.427
Threshold value:	1,300.01295, 85% of initial level
Pricing date:	March 29
Settlement date:	April 4
Agent:	Wells Fargo Securities, LLC
Fees:	3.77%
Cusip:	13605WKE0

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