New Issue: CIBC sells $2.23 million leveraged market-linked notes tied to biotech ETF

By Wendy Van Sickle

Columbus, Ohio, July 22 – Canadian Imperial Bank of Commerce priced $2.23 million of 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due Jan. 23, 2023 linked to the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 125% of any ETF gain up to a maximum payout of par plus 30%.

Investors will receive par if the ETF falls by up 15% and will be fully exposed to the decline of the ETF beyond 15%.

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 ETF:	SPDR S&P Biotech ETF
Amount:	$2,225,000
Maturity:	Jan. 23, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 125% of any ETF gain up to a maximum payout of par plus 30%; par if the ETF falls by up to 15%; exposure to losses beyond 15%
Initial ETF level:	$118.74
Threshold level:	$100.929, 85% of initial level
Pricing date:	July 17
Settlement date:	July 22
Agent:	Wells Fargo Securities, LLC
Fees:	2.9%
Cusip:	13605WZQ7

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