CIBC plans notes with leveraged upside on iShares MSCI EAFE ETF

By Wendy Van Sickle

Columbus, Ohio, Aug. 10 – 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 Sept. 6, 2019 linked to the iShares MSCI EAFE exchange-traded fund, according to a 424B3 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 175% of any fund gain, up to a maximum return of 30% to 45%. The exact cap will be set at pricing.

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

Wells Fargo Securities, LLC is the agent.

The notes will price on Aug. 31.

The Cusip number is 13605WBR1.

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