New Issue: CIBC prices $575,000 leveraged barrier notes on S&P 500, ETFs

By Wendy Van Sickle

Columbus, Ohio, Nov. 13 – Canadian Imperial Bank of Commerce priced $575,000 of 0% leveraged barrier notes due Nov. 4, 2025 linked to the worst performing of the Invesco QQQ Trust, series 1, the SPDR Dow Jones industrial average ETF trust and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the return of the worst performing asset is positive, the payout at maturity will be par plus 1.88 times that asset’s gain.

Investors will receive par if the worst performing asset declines by up to 30%.

And, investors will be exposed to any losses of the worst performing asset if it falls by more than 30%.

CIBC World Markets Corp. is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Leveraged barrier notes
Underlying assets:	S&P 500 index, Invesco QQQ Trust, series 1, SPDR Dow Jones industrial average ETF trust
Amount:	$575,000
Maturity:	Nov. 4, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 1.88 times any gain of worst performing asset; par if worst performing asset declines by up to 30%; 1% loss for each 1% decline from initial level if worst performing asset declines beyond 30%
Initial levels:	3,269.96 for S&P, $265.06 for Dow ETF and $269.38 for QQQ
Barrier levels:	2,288.97 for S&P, $185.54 for Dow ETF and $188.57 for QQQ, 70% of initial levels
Pricing date:	Oct. 30
Settlement date:	Nov. 4
Agent:	CIBC World Markets Corp.
Fees:	0.75%
Cusip:	13605WK42

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