New Issue: CIBC prices $7.78 million capped leveraged buffered notes on S&P 500

By Wendy Van Sickle

Columbus, Ohio, April 1 – Canadian Imperial Bank of Commerce priced $7.78 million of 0% capped leveraged buffered notes due June 26, 2024 linked to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index’s return is positive, the payout at maturity will be par plus 1.3 times the gain, subject to a maximum payout of par plus 35.438%.

Investors will receive par if the index falls by up to 15% and will lose 1.1765% for each 1% decline 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 index
Amount:	$7,776,000
Maturity:	June 26, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 1.3 times any index gain, capped at par plus 35.438%; par if the index falls by up to 15%; otherwise, 1.1765% loss for each 1% decline beyond 15%
Initial level:	4,631.6
Buffer level:	85% of initial level
Pricing date:	March 29
Settlement date:	April 5
Agent:	CIBC World Markets Corp.
Fees:	None
Cusip:	13607X6F9

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