New Issue: CIBC sells $574,000 leveraged market-linked notes tied to S&P 500

By Wendy Van Sickle

Columbus, Ohio, Aug. 10 – Canadian Imperial Bank of Commerce priced $574,000 of 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due Aug. 5, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 125% of any index gain up to a maximum payout of par plus 20%.

Investors will receive par if the index falls by up to 7.5% and will be fully exposed to the decline of the index beyond 7.5%.

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:	S&P 500 index
Amount:	$574,000
Maturity:	Aug. 5, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 125% of any index gain up to a maximum payout of par plus 20%; par if the index falls by up to 7.5%; exposure to losses beyond 7.5%
Initial index level:	3,217.12
Threshold level:	3,025.786, 92.5% of initial level
Pricing date:	July 31
Settlement date:	Aug. 5
Agent:	Wells Fargo Securities, LLC
Fees:	2.27%
Cusip:	13605WZY0

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