New Issue: CIBC sells $3.25 million market-linked leveraged notes tied to S&P

By Wendy Van Sickle

Columbus, Ohio, Feb. 4 – Canadian Imperial Bank of Commerce priced $3.25 million of 0% market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside due Feb. 5, 2024 linked to the S&P 500 index, according to a 424B3 filing with the Securities and Exchange Commission.

At maturity, investors will receive par plus 150% of any index gain, subject to a maximum total gain of 57%.

If the index declines by up to 15%, the payout at maturity will be par.

Otherwise, investors will lose 1% for every 1% decline beyond 15%.

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 index:	S&P 500
Amount:	$3,252,000
Maturity:	Feb. 5, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 150% of any index gain, up to maximum total gain of 57%; if the final index falls by up to 15%, par; 1% loss for each 1% decline beyond 15%
Initial level:	2,704.1
Buffer level:	2,433.69, 90% of initial level
Pricing date:	Jan. 31
Settlement date:	Feb. 5
Agent:	Wells Fargo Securities, LLC
Fees:	4.36%
Cusip:	13605WPB1C9

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