New Issue: CIBC prices $1.18 million leveraged barrier notes tied to S&P, Russell

By William Gullotti

Buffalo, N.Y., Feb. 2 – Canadian Imperial Bank of Commerce priced $1.18 million of 0% leveraged barrier notes due Jan. 22, 2029 linked to the worst performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the return of the worst performing index is positive, the payout at maturity will be par plus 1.664 times that index’s gain.

Investors will receive par if the worst performing index declines by up to 30%.

Otherwise, investors will be exposed to the decline of the worst performer from its initial level.

CIBC World Markets Corp. is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Leveraged barrier notes
Underlying index:	Russell 2000 index, S&P 500 index
Amount:	$1,181,000
Maturity:	Jan. 22, 2029
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 1.664 times any gain of worst performing index; par if worst performing index declines by up to 30%; otherwise, 1% loss for each 1% decline of worst performer from initial level
Initial levels:	4,739.21 for S&P, 1,913.166 for Russell
Barrier levels:	3,317.45 for S&P, 1,339.216 for Russell; 70% of initial levels
Pricing date:	Jan. 17
Settlement date:	Jan. 22
Agent:	CIBC World Markets Corp.
Fees:	0.55%
Cusip:	13607XQ42

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