New Issue: CIBC sells $1.83 million leveraged market-linked notes tied to Stoxx

By Sarah Lizee

Olympia, Wash., Dec. 7 – Canadian Imperial Bank of Commerce priced $1.83 million of 0% market-linked securities with leveraged upside participation to a cap and fixed-percentage buffered downside due Dec. 7, 2020 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 150% of any index gain, capped at par plus 63%.

Investors will receive par if the index falls by up 15% and will lose 1% for every 1% decline in the index beyond 15%.

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 index:	Euro Stoxx 50 index
Amount:	$1,827,000
Maturity:	Dec. 7, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 150% of any index gain, capped at par plus 63%; par if the index falls by up to 15%; 1% loss for every 1% decline beyond 15%
Initial index level:	3,173.13
Buffer level:	2,697.1605, 85% of initial level
Pricing date:	Nov. 30
Settlement date:	Dec. 5
Agent:	Wells Fargo Securities, LLC
Fees:	3%
Cusip:	13605WMZ1

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