New Issue: CIBC sells $927,000 digital buffered notes linked to Russell 2000

By Marisa Wong

Morgantown, W.Va., Oct. 4 – Canadian Imperial Bank of Commerce priced $927,000 of 0% digital buffered notes due March 29, 2021 linked to the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.

If the index return is at least negative 20%, the payout at maturity will be par plus 16%. Otherwise, investors will lose 1% for every 1% that the index declines beyond 20%.

CIBC World Markets is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Digital buffered notes
Underlying index:	Russell 2000
Amount:	$927,000
Maturity:	March 29, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If the index return is at least negative 20%, par plus 16%; otherwise, 1% loss for every 1% that the index declines beyond 20%
Initial index level:	1,456.863
Pricing date:	Sept. 26
Settlement date:	Sept. 29
Agent:	CIBC World Markets
Fees:	3%
Cusip:	13605WFN6

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