New Issue: CIBC prices $14.97 million digital notes linked to Russell 2000

By Wendy Van Sickle

Columbus, Ohio, Feb. 5 – Canadian Imperial Bank of Commerce priced $14.97 million of 0% digital notes due Feb. 6, 2020 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is greater than or equal to negative 15%, the payout at maturity will be $1,128.30 per $1,000 principal amount of notes. Otherwise, investors will lose 1.1765% for every 1% that the index declines beyond 15%.

CIBC World Markets Corp. is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Digital notes
Underlying index:	Russell 2000
Amount:	$14,965,000
Maturity:	Feb. 6, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is greater than or equal to negative 15%, $1,128.30 per $1,000 principal amount of notes; otherwise, 1.1765% loss for every 1% that index declines beyond 15%
Initial index level:	1,579.866
Pricing date:	Feb. 1
Settlement date:	Feb. 8
Agent:	CIBC World Markets Corp.
Fees:	1.47%
Cusip:	13605WJK8

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