CIBC plans capped leveraged buffered notes linked to iShares MSCI EM

By Susanna Moon

Chicago, July 20 – Canadian Imperial Bank of Commerce plans to price 0% capped leveraged buffered notes due in 19 to 22 months linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 1.6 times any fund gain up to a maximum settlement amount of between $1,203.84 and $1,239.68 per $1,000 of notes.

Investors will receive par if the fund falls by up to 10% and will lose 1.1111% for each 1% decline beyond 10%.

The exact maturity date and maximum settlement amount will be set at pricing.

CIBC World Markets is the agent.

The Cusip is 13605WEN7.

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