New Issue: CIBC sells $1.95 million leveraged market-linked notes tied to MSCI Brazil ETF

By Kiku Steinfeld

Chicago, July 30 – Canadian Imperial Bank of Commerce priced $1.95 million of 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due July 29, 2022 linked to the iShares MSCI Brazil ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 150% of any ETF gain up to a maximum payout of par plus 35%.

Investors will receive par if the ETF falls by up 7.5% and will be fully exposed to the decline of the ETF beyond 7.5%.

Wells Fargo Securities, LLC is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside
Underlying ETF:	iShares MSCI Brazil ETF
Amount:	$1,947,000
Maturity:	July 29, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 150% of any ETF gain up to a maximum payout of par plus 35%; par if the ETF falls by up to 7.5%; exposure to losses beyond 7.5%
Initial ETF level:	$32.29
Threshold level:	$29.86825, 92.5% of initial level
Pricing date:	July 24
Settlement date:	July 29
Agent:	Wells Fargo Securities, LLC
Fees:	2.83%
Cusip:	13605WA43

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