By Wendy Van Sickle
Columbus, Ohio, July 29 – Canadian Imperial Bank of Commerce priced $1.22 million of 0% market-linked securities — leveraged upside participation to a cap and contingent downside due Aug. 1, 2025 linked to the VanEck Semiconductor ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF finishes positive, the payout at maturity will be par plus 150% of the ETF gain, subject to a maximum payout of par plus 63%
If the ETF finishes flat or falls up to 30%, the payout at maturity will be par. Otherwise, investors will be fully exposed to the loss.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Canadian Imperial Bank of Commerce
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| Issue: | Market-linked securities — leveraged upside participation to a cap and contingent downside
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| Underlying ETF: | VanEck Semiconductor ETF
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| Amount: | $1.22 million
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| Maturity: | Aug. 1, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 150% of any ETF gain, capped at par plus 63%; if the ETF falls by up to 30%, par; otherwise, full exposure to loss
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| Initial level: | $232.36
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| Threshold level: | $162.652; 70% of initial level
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| Pricing date: | July 27
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| Settlement date: | Aug. 1
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| Underwriter: | Wells Fargo Securities, LLC
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| Fees: | 2.72%
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| Cusip: | 13607XAP2
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