New Issue: CIBC sells $2.02 million leveraged market-linked notes with buffered downside on Stoxx

By William Gullotti

Buffalo, N.Y., Aug. 22 – Canadian Imperial Bank of Commerce priced $2.02 million of 0% market-linked securities — leveraged upside participation and fixed percentage buffered downside due Aug. 23, 2028 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes positive, the payout at maturity will be par plus 161% of the index gain.

If the index finishes flat or falls up to 40%, the payout at maturity will be par. Otherwise, investors will be exposed to losses beyond 40%.

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 index:	Euro Stoxx 50 index
Amount:	$2,022,000
Maturity:	Aug. 23, 2028
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 161% of any index gain; if the index falls by up to 40%, par; otherwise, 1% loss for every 1% decline beyond 40%
Initial level:	4,212.95
Threshold level:	2,527.77; 60% of initial level
Pricing date:	Aug. 18
Settlement date:	Aug. 23
Underwriter:	Wells Fargo Securities, LLC
Fees:	3.87%
Cusip:	13607XLL9

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