New Issue: CIBC sells $1.58 million market-linked notes with leveraged upside on S&P 500

By Tali Rackner

Norfolk, Va., June 9 – Canadian Imperial Bank of Commerce priced $1.58 million of market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due June 3, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 1.5 times any index gain, up to a maximum return of 62%.

Investors will receive par if the index falls by up to 15% and will lose 1% for every 1% decline beyond 15%.

Wells Fargo Securities, LLC is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside
Underlying index:	S&P 500
Amount:	$1,577,000
Maturity:	June 3, 2021
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	Par plus 1.5 times any index gain, capped at 62% par if index falls by up to 15%; exposure to any losses beyond 15%
Initial level:	2,096.96
Threshold level:	1,782.416, 85% of initial level
Pricing date:	May 31
Settlement date:	June 3
Agent:	Wells Fargo Securities, LLC
Fees:	3.36%
Cusip:	13605WBN0

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