CIBC plans market-linked notes with leveraged upside on Euro Stoxx 50

By Devika Patel

Knoxville, Tenn., Sept. 20 – Canadian Imperial Bank of Commerce plans to price 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due Oct. 4, 2019 linked to the Euro Stoxx 50 index, according to a 424B3 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 300% of any index gain, up to a maximum payout of 20% to 24%. The exact cap will be set at pricing.

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

Wells Fargo Securities, LLC is the agent.

The notes (Cusip: 13605WFL0) will price Sept. 29 and settle Oct. 4.

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