New Issue: CIBC sells $1.28 million leveraged upside participation notes on Stoxx

By Sarah Lizee

Olympia, Wash., July 5 – Canadian Imperial Bank of Commerce priced $1.28 million of 0% leveraged upside participation market-linked securities due Jan. 6, 2020 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus 200% of the gain, subject to a maximum return of 18%.

If the index falls by up to 10%, the payout will be par.

If the index falls by more than 10%, investors will lose 1% for every 1% decline below the initial level.

Wells Fargo Securities, LLC is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Leveraged upside participation market-linked securities
Underlying index:	Euro Stoxx 50 index
Amount:	$1,279,000
Maturity:	Jan. 6, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	If the index return is positive, par plus 200% of the gain, up to maximum return of 18%; if the index falls by up to 10%, par; if the index falls by more than 10%, 1% loss for every 1% drop below initial level
Initial level:	3,395.60
Threshold level:	3,056.04, 90% of initial level
Pricing date:	June 29
Settlement date:	July 5
Agent:	Wells Fargo Securities, LLC
Fees:	2.38%
Cusip:	13605WLM1

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