New Issue: CIBC sells $1.13 million leveraged market-linked notes tied to the Dow

By Sarah Lizee

Olympia, Wash., Nov. 8 – Canadian Imperial Bank of Commerce priced $1.13 million of 0% market-linked securities with leveraged upside participation and fixed-percentage buffered downside due Nov. 5, 2025 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 112% of any index gain.

Investors will receive par if the index falls by up 20% and will lose 1% for every 1% decline in the index beyond 20%.

Wells Fargo Securities, LLC is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Market-linked securities with leveraged upside participation and fixed-percentage buffered downside
Underlying index:	Dow Jones industrial average
Amount:	$1,132,000
Maturity:	Nov. 5, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 112% of any index gain; par if the index falls by up to 20%; 1% loss for every 1% decline beyond 20%
Initial index level:	27,046.23
Buffer level:	21,636.984, 80% of initial level
Pricing date:	Oct. 31
Settlement date:	Nov. 5
Agent:	Wells Fargo Securities, LLC
Fees:	4.71%
Cusip:	13605WSR3

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