New Issue: CIBC prices $4.29 million leveraged barrier notes on indexes, ETF

By William Gullotti

Buffalo, N.Y., Nov. 30 – Canadian Imperial Bank of Commerce priced $4.29 million of 0% leveraged barrier notes due Nov. 30, 2026 linked to the worst performing of the Nasdaq-100 index, the SPDR Dow Jones industrial average ETF trust and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the return of the worst performing underlier is positive, the payout at maturity will be par plus 1.308 times that underlier’s gain.

Investors will receive par if the worst performing underlier declines by up to 40%.

Otherwise, investors will be exposed to the decline of the worst performer from its initial level.

CIBC World Markets Corp. is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Leveraged barrier notes
Underlying assets:	Russell 2000 index, Nasdaq-100 index, SPDR Dow Jones industrial average ETF trust
Amount:	$4,288,000
Maturity:	Nov. 30, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 1.308 times any gain of worst performing underlier; par if worst performing underlier declines by up to 40%; otherwise, 1% loss for each 1% decline of worst performer from initial level
Initial levels:	$358.03 for ETF, 16,367.81 for Nasdaq, 2,331.459 for Russell
Barrier levels:	$214.82 for ETF, 9,820.69 for Nasdaq, 1,398.875 for Russell; 60% of initial levels
Pricing date:	Nov. 24
Settlement date:	Nov. 30
Agent:	CIBC World Markets Corp.
Fees:	3.5%
Cusip:	13607X2S5

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