CIBC to price market-linked notes with leveraged upside on S&P 500

By Marisa Wong

Morgantown, W.Va., April 27 – 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 3, 2022 linked to the S&P 500 index, according to a 424B3 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 150% of any index gain, up to a maximum return of 50% to 55%. The exact cap will be set at pricing.

Investors will receive par if the index falls by up to 15% and will lose 1% for every 1% decline beyond 15%.

Wells Fargo Securities, LLC is the agent.

The notes will price on April 28.

The Cusip number is 13605WCR0.

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