New Issue: CIBC sells $1.73 million leveraged market-linked notes with buffered downside on ETF

By William Gullotti

Buffalo, N.Y., Aug. 9 – Canadian Imperial Bank of Commerce priced $1.73 million of 0% market-linked securities — leveraged upside participation and fixed percentage buffered downside due May 2, 2029 linked to the SPDR Dow Jones Industrial Average ETF Trust, according to a 424B2 filing with the Notes and Exchange Commission.

If the ETF finishes positive, the payout at maturity will be par plus 1.385 times the gain of the ETF.

Investors will receive par if the ETF declines by no more than 15% and will lose 1% for every 1% that the ETF declines beyond 15%.

Wells Fargo Securities, LLC is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Market-linked securities — leveraged upside participation and fixed percentage buffered downside
Underlying fund:	SPDR Dow Jones Industrial Average ETF Trust
Amount:	$1,725,000
Maturity:	May 2, 2029
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 1.385 times any ETF gain; if ETF falls but finishes at or above buffer level, par; otherwise, 1% loss for every 1% decline beyond 15%
Initial level:	$354.48
Buffer level:	$301.308; 85% of initial level
Pricing date:	July 28
Settlement date:	Aug. 2
Underwriter:	Wells Fargo Securities, LLC
Fees:	3.87%
Cusip:	13607XKJ5

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