CIBC to price capped leveraged notes linked to basket of tech stocks

By Angela McDaniels

Tacoma, Wash., Nov. 4 – Canadian Imperial Bank of Commerce plans to price of 0% capped leveraged notes due Dec. 10, 2020 linked to a basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.

The basket includes the common stocks of Apple Inc., Amazon.com, Inc., salesforce.com, inc., DocuSign, Inc., ServiceNow, Inc., RingCentral, Inc., Atlassian Corp. Plc, Twilio Inc., Veeva Systems Inc., Zendesk, Inc. and Zoom Video Communications, Inc. The stocks are equally weighted.

If the basket return is positive, the payout at maturity will be par plus 150% of the basket return, subject to a maximum return that is expected to be at least 22% and will be set at pricing. If the basket return is negative, investors will have one-to-one downside exposure to the decline.

CIBC World Markets Corp. is the agent.

The notes will price Nov. 5.

The Cusip number is 13605WTQ4.

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