New Issue: CIBC sells $1.46 million capped leveraged barrier notes on Bank of America, Wells Fargo

By Wendy Van Sickle

Columbus, Ohio, Nov. 1 – Canadian Imperial Bank of Commerce priced $1.46 million of 0% capped leveraged barrier notes due July 2, 2025 linked to the worst performing of the shares of Wells Fargo & Co. of Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.

If the worst-performing stock return is positive, the payout at maturity will be par plus 2 times the worst-performing stock gain, capped at par plus 66.22%.

Investors will receive par if the worst-performing stock declines by up to 20%.

Investors will be fully exposed to losses if the worst-performing stock declines beyond the 80% barrier.

CIBC World Markets Corp. is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Capped leveraged barrier notes
Underlying stocks:	Bank of America Corp. and Wells Fargo & Co.
Amount:	$1,461,000
Maturity:	July 2, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 2 times any gain of worst-performing stock, capped at par plus 66.22%; par if worst-performing stock declines by up to 20%; otherwise, 1% loss for each 1% decline of worst-performing stock
Initial price:	$35.87 for BofA, $45.65 for Wells
Barrier price:	$28.70 for BofA, $36.52 for Wells, 80% of initial price
Pricing date:	Oct. 28
Settlement date:	Nov. 2
Agent:	CIBC World Markets Corp.
Fees:	0.54%
Cusip:	13607XD20

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