New Issue: CIBC prices $10.03 million digital index-linked notes on Euro Stoxx Banks

By Wendy Van Sickle

Columbus, Ohio, Feb. 18 – Canadian Imperial Bank of Commerce priced $10.03 million of 0% digital index-linked notes due Nov. 3, 2022 linked to the Euro Stoxx Banks index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is greater than or equal to negative 20%, the payout at maturity will be $1,140 per $1,000 principal amount of notes. Otherwise, investors will lose 1.25% for every 1% that the index declines beyond 20%.

CIBC World Markets Corp. is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Digital index-linked notes
Underlying index:	Euro Stoxx Banks index
Amount:	$10.03 million
Maturity:	Nov. 3, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is greater than or equal to negative 20%, $1,140 per $1,000 principal amount of notes; otherwise, 1.25% loss for every 1% that index declines beyond 20%
Initial index level:	79.68
Buffer level:	80% of initial level
Pricing date:	Feb. 12
Settlement date:	Feb. 22
Agent:	CIBC World Markets Corp.
Fees:	1.25%
Cusip:	13605WX22

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