New Issue: CIBC prices $9.38 million digital notes due 2019 tied to index basket

By Sarah Lizee

Olympia, Wash., Sept. 24 – Canadian Imperial Bank of Commerce priced $9.38 million of digital notes due Oct. 30, 2019 linked to a basket of indexes, according to an 424B2 filing with the Securities and Exchange Commission.

The basket consists of the Euro Stoxx 50 index with a 36% weight, the Topix index with a 27% weight, the FTSE 100 index with a 20% weight, the Swiss Market index with a 9% weight and the S&P/ASX 200 index with an 8% weight.

If the basket return is positive or falls by up to 10%, the payout at maturity will be the maximum settlement amount of $1,066.50 per $1,000 of notes.

Investors will lose 1.1111% for each 1% decline beyond 10%.

CIBC World Markets is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Digital notes
Underlying basket:	Euro Stoxx 50 (36% weight), Topix (27% weight), FTSE 100 (20% weight), Swiss Market (9% weight) and S&P/ASX 200 (8% weight)
Amount:	$9,375,000
Maturity:	Oct. 30, 2019
Coupon:	0%
Price:	Par
Payout at maturity:	If basket return is positive or falls by up to 10%, $1,066.50 per $1,000 of notes; 1.1111% loss for each 1% decline beyond 10%
Initial levels:	3,403.12 for Euro Stoxx, 1,787.60 for Topix, 7,367.32 for FTSE, 9,000.81 for Swiss Market, 6,169.452 for S&P/ASX
Pricing date:	Sept. 20
Settlement date:	Sept. 27
Agent:	CIBC World Markets Corp.
Fees:	0.96%
Cusip:	13605WMH1

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