New Issue: CIBC sells $10.47 million leveraged market-linked notes tied to S&P MidCap 400

By Wendy Van Sickle

Columbus, Ohio, Jan. 4 – Canadian Imperial Bank of Commerce priced $10.47 million of 0% market-linked securities with leveraged upside participation to a cap and fixed-percentage buffered downside due Jan. 3, 2022 linked to the S&P MidCap 400 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 200% of any index gain, capped at par plus 10.6%.

Investors will receive par if the index falls by up 7.5% and will lose 1% for every 1% decline in the index beyond 7.5%.

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:	S&P MidCap 400 index
Amount:	$10,469,000
Maturity:	Jan. 3, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 200% of any index gain, capped at par plus 10.6%; par if the index falls by up to 7.5%; 1% loss for every 1% decline beyond 7.5%
Initial index level:	2,283.99
Buffer level:	2,112.69075, 92.5% of initial level
Pricing date:	Dec. 29
Settlement date:	Jan. 5
Agent:	Wells Fargo Securities, LLC
Fees:	0.24%
Cusip:	13605WR86

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