New Issue: CIBC sells $1.26 million leveraged upside participation market-linked notes on S&P

By Wendy Van Sickle

Columbus, Ohio, Oct. 4 – Canadian Imperial Bank of Commerce priced $1.26 million of 0% market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside due Oct. 3, 2025 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 125% of the gain in the index, capped at a maximum return of par plus 23.5%.

If the index falls by up to 10%, the payout will be par. Otherwise, investors will lose 1% for every 1% decline of the index beyond 10%.

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:	S&P 500 index
Amount:	$1,258,000
Maturity:	Oct. 3, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 125% of the index gain, capped at par plus 23.5%; if index falls by up to 10%, par; otherwise, 1% loss for every 1% decline of index beyond 10%
Initial level:	4,299.7
Buffer level:	3,869.73; 90% of initial level
Pricing date:	Sept. 28
Settlement date:	Oct. 3
Agent:	Wells Fargo Securities LLC
Fees:	2.81%
Cusip:	13607XMR5

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