New Issue: CIBC prices $2.24 million capped leveraged buffered notes on S&P 500

By Wendy Van Sickle

Columbus, Ohio, March 27 – Canadian Imperial Bank of Commerce priced $2.24 million of 0% capped leveraged buffered notes due Sept. 27, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus 2 times the index gain, capped at $1,200 per $1,000 of notes. Investors will receive par if the index falls by up to 15% and will lose 1.1765% for each 1% loss beyond 15%.

CIBC World Markets Corp. is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Capped leveraged buffered notes
Underlying index:	S&P 500
Amount:	$2,235,000
Maturity:	Sept. 27, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 2 times any index gain, capped at $1,200 per $1,000 of notes; par if index falls by up to 15%; 1.1765% loss for each 1% decline beyond 15%
Initial level:	2,237.4
Pricing date:	March 23
Settlement date:	March 30
Agent:	CIBC World Markets Corp.
Fees:	1.51%
Cusip:	13605WWV9

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