CIBC to price autocallables with buffer linked to Euro Stoxx 50 index

By Angela McDaniels

Tacoma, Wash., July 3 – Canadian Imperial Bank of Commerce plans to price 0% autocallable market-linked securities with fixed percentage buffered downside due Aug. 3, 2020 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be automatically called at par plus a premium if the index closes at or above the initial index level on Aug. 3, 2018, Aug. 5, 2019 or July 27, 2020. The call premium is expected to be 7.5% to 8.5% per year and will be set at pricing.

If the notes are not called and the final index level is greater than or equal to the threshold level, 90% of the initial index level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the index declines beyond 10%.

Wells Fargo Securities LLC is the agent.

The notes will price July 31.

The Cusip number is 13605WDW8.

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