New Issue: CIBC prices $13.8 million Accelerated Return Notes on Facebook

By Wendy Van Sickle

Columbus, Ohio, Oct. 2 – Canadian Imperial Bank of Commerce priced $13.8 million of 0% Accelerated Return Notes due Nov. 29, 2019 linked to the common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus triple any stock gain, up to a maximum return of 24.25%.

Investors will be exposed to any stock decline.

BofA Merrill Lynch is the underwriter.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Accelerated Return Notes
Underlying shares:	Facebook, Inc.
Amount:	$13,799,240
Maturity:	Nov. 29, 2019
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 300% of any stock gain, capped at 24.25%; exposure to any stock decline
Initial index level:	$169.77
Pricing date:	Sept. 27
Settlement date:	Oct. 4
Agent:	BofA Merrill Lynch
Fees:	2%
Cusip:	13606M375

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