Chicago, June 2 – Canadian Imperial Bank of Commerce priced $1.75 million of 0% capped leveraged barrier notes due June 3, 2026 linked to the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF return is positive, the payout at maturity will be par plus two times the ETF gain, capped at par plus 99.4%.
Investors will receive par if the ETF declines by up to 15%.
Investors will be fully exposed to losses if the ETF declines beyond the 85% barrier.
CIBC World Markets Corp. is the agent.
| Issuer: | Canadian Imperial Bank of Commerce
|
| Issue: | Capped leveraged barrier notes
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| Underlying ETF: | SPDR S&P Regional Banking ETF
|
| Amount: | $1,753,000
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| Maturity: | June 3, 2026
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus two times any ETF gain, capped at par plus 99.4%; par if ETF declines by up to 15%; otherwise, 1% loss for each 1% decline from initial level
|
| Initial price: | $40.21
|
| Barrier price: | $34.18, 85% of initial price
|
| Pricing date: | May 31
|
| Settlement date: | June 5
|
| Agent: | CIBC World Markets Corp.
|
| Fees: | 0.6%
|
| Cusip: | 13607XJG3
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