New Issue: CIBC sells $1.20 million market-linked notes on iShares MSCI EAFE

By Marisa Wong

Morgantown, W.Va., April 16 – Canadian Imperial Bank of Commerce priced $1,198,000 of 0% market-linked securities with leveraged upside participation and contingent downside due April 3, 2023 linked to the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 129% of any ETF gain.

Investors will receive par if the ETF falls by up to 30% and will lose 1% for every 1% decline below the initial level if it falls by more than 30%.

Wells Fargo Securities, LLC is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Market-linked securities with leveraged upside participation and contingent downside
Underlying ETF:	iShares MSCI EAFE ETF
Amount:	$1,198,000
Maturity:	April 3, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 129% of any ETF gain; par if ETF falls by up to 30%; 1% loss for every 1% decline below initial level if ETF falls by more than 30%
Initial value:	$69.05
Threshold value:	$48.335, 70% of initial level
Pricing date:	March 28
Settlement date:	April 3
Agent:	Wells Fargo Securities, LLC
Fees:	3.71%
Cusip:	13605WKF7

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