New Issue: CIBC sells $3.35 million leveraged market-linked notes on SPDR S&P ETF

By Sarah Lizee

Olympia, Wash., Nov. 8 – Canadian Imperial Bank of Commerce priced $3.35 million of 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due Nov. 7, 2022 linked to the SPDR S&P 500 ETF trust, according to a 424B3 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 150% of any ETF gain, up to a maximum return of 25%.

Investors will receive par if the ETF falls by up to 10% and will lose 1% for every 1% decline beyond 10%.

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 ETF:	SPDR S&P 500 ETF trust
Amount:	$3,351,000
Maturity:	Nov. 7, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 150% of any ETF gain, subject to a maximum payout of par plus 25%; par if the ETF falls by up to 10%; 1% loss for each 1% decline beyond 10%
Initial value:	$303.33
Threshold value:	$272.997, 90% of initial level
Pricing date:	Oct. 31
Settlement date:	Nov. 5
Agent:	Wells Fargo Securities, LLC
Fees:	3.1%
Cusip:	13605WSQ5

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