By Sarah Lizee
Olympia, Wash., Feb. 13 – Canadian Imperial Bank of Commerce priced $1.17 million of 0% market-linked securities – autocallable with fixed percentage buffered downside due Feb. 5, 2024 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 7.5% if the index closes at or above its initial level on any annual observation date.
The payout at maturity will be par unless the index falls by more than 10%, in which case investors will be exposed to any losses beyond 10%.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Canadian Imperial Bank of Commerce
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| Issue: | Market linked securities – autocallable with fixed percentage buffered downside
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| Underlying index: | Euro Stoxx 50 index
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| Amount: | $1.17 million
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| Maturity: | Feb. 5, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par unless index falls by more than 10%, in which case exposure to any losses beyond 10%
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| Call: | At par plus an annual call premium of 7.5% if index closes at or above its initial level on any annual observation date
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| Initial index level: | 3,640.91
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| Threshold level: | 3,276.819, 90% of initial level
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| Pricing date: | Jan. 31
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| Settlement date: | Feb. 5
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| Agent: | Wells Fargo Securities LLC
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| Fees: | 2.825%
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| Cusip: | 13605WVA6
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