By Marisa Wong
Los Angeles, March 30 – Canadian Imperial Bank of Commerce priced $1.58 million of 0% partial upside participation and enhanced upside participation notes due March 24, 2022 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 50% of any index gain plus an additional 111% of any gain in excess of 10%.
If the index falls, investors will be fully exposed to the decline.
CIBC World Markets Corp. is the agent.
| Issuer: | Canadian Imperial Bank of Commerce
|
| Issue: | Partial upside participation and enhanced upside participation notes
|
| Underlying index: | S&P 500
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| Amount: | $1.58 million
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| Maturity: | March 24, 2022
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 50% of any index gain plus an additional 111% of any gain in excess of 10%; full exposure to any index decline
|
| Initial level: | 2,304.92
|
| Pricing date: | March 20
|
| Settlement date: | March 25
|
| Agent: | CIBC World Markets Corp.
|
| Fees: | 0.075%
|
| Cusip: | 13605WWU1
|
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