CIBC plans capped leveraged buffered notes tied to iShares MSCI EM

By Susanna Moon

Chicago, Jan. 17 – Canadian Imperial Bank of Commerce plans to price 0% capped leveraged buffered notes due in 23 to 26 months linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 1.6 times any fund gain, up to a maximum settlement amount of $1,247.52 to $1,291.04 per $1,000 principal amount.

Investors will receive par if the fund falls by up to 12.5% and will lose 1.1429% for each 1% decline beyond 12.5%.

CIBC World Markets Corp. is the agent.

The Cusip number is 13605WHW4.

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