New Issue: CIBC sells $3.78 million market-linked upside notes with buffered downside on basket

By William Gullotti

Buffalo, N.Y., Sept. 6 – Canadian Imperial Bank of Commerce priced $3.78 million of 0% market-linked securities — leveraged upside participation to a cap and fixed percentage buffered downside due Sept. 2, 2025 linked to an evenly weighted basket consisting of the Euro Stoxx 50 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the basket finishes positive, the payout at maturity will be par plus 125% of the gain, subject to a maximum payout of par plus 26.5%

If the basket finishes flat or falls by no more than 10%, the payout at maturity will be par. Otherwise, investors will be exposed to losses beyond 10%.

Wells Fargo Securities, LLC is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Market-linked securities — leveraged upside participation to a cap and fixed percentage buffered downside
Underlying indexes:	Euro Stoxx 50 index, S&P 500 index; equal weights
Amount:	$3,783,000
Maturity:	Sept. 2, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 125% of any basket gain, capped at par plus 26.5%; if the basket falls by up to 10%, par; otherwise, 1% loss for every 1% decline beyond 10%
Initial levels:	4,326.47 for Stoxx, 4,497.63 for S&P
Threshold level:	90% of initial level
Pricing date:	Aug. 29
Settlement date:	Sept. 1
Underwriter:	Wells Fargo Securities, LLC
Fees:	2.82%
Cusip:	13607XMH7

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