New Issue: CIBC prices $682,000 capped leveraged buffered notes on EM ETF

By Wendy Van Sickle

Columbus, Ohio, Feb. 25 – Canadian Imperial Bank of Commerce priced $682,000 on of 0% capped leveraged buffered notes due Aug. 25, 2021 linked to the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.

If the ETF return is positive, the payout at maturity will be par plus 1.5 times the ETF gain, capped at par plus 16.275%.

If the ETF falls by up to 12.5%, the payout will be par. If the ETF falls by more than 12.5%, investors will lose 1.1429% for every 1% decline beyond the buffer.

CIBC World Markets Corp. is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Capped leveraged buffered notes
Underlying ETF:	iShares MSCI Emerging Markets ETF
Amount:	$682,000
Maturity:	Aug. 25, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If ETF return is positive, par plus 1.5 times ETF gain, capped at par plus 16.275%; if ETF falls by up to 12.5%, par; if ETF falls by more than 12.5%, 1.1429% loss for every 1% decline beyond the buffer
Initial level:	$43.29
Buffer level:	87.5% of initial level
Pricing date:	Feb. 21
Settlement date:	Feb. 26
Agent:	CIBC World Markets Corp.
Fees:	0%
Cusip:	13605WVX6

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