New Issue: CIBC sells $1.00 million capped leveraged notes on S&P 500

By Marisa Wong

Los Angeles, March 15 – Canadian Imperial Bank of Commerce priced $1,003,000 of 0% capped leveraged notes due Nov. 10, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is greater than the initial level, the payout at maturity will be par plus 3 times the index gain, subject to a maximum payout of $1,247.50 per $1,000 principal amount.

Investors will lose 1% for each 1% index decline.

CIBC World Markets Corp. is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Capped leveraged notes
Underlying index:	S&P 500
Amount:	$1,003,000
Maturity:	Nov. 10, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 3 times any index gain, capped at par plus 24.75%; full exposure to any index decline
Initial level:	3,934.83
Pricing date:	Feb. 12
Settlement date:	Feb. 22
Agent:	CIBC World Markets Corp.
Fees:	None
Cusip:	13605WX48

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