New Issue: CIBC sells $8.16 million market-linked leveraged buffered notes on S&P

By Kiku Steinfeld

Chicago, Jan. 10 – Canadian Imperial Bank of Commerce priced $8.16 million of 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due Jan. 3, 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 settlement of $1,120 per $1,000 note.

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.

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
Amount:	$8,159,000
Maturity:	Jan. 3, 2022
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	If the index return is positive, par plus 1.25 times the index return, up to a maximum settlement of $1,120 per $1,000 note; par if index declines by 15% or less; 1% loss for every 1% drop beyond 15%
Initial level:	3,221.29
Buffer level:	2,738.0965, of 85% of initial level
Pricing date:	Dec. 30
Settlement date:	Jan. 3
Agent:	Wells Fargo Securities, LLC
Fees:	2.73%
Cusip:	13605WUD1

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