New Issue: CIBC prices $4.42 million capped leveraged buffered notes on S&P 500

By William Gullotti

Buffalo, N.Y., June 8 – Canadian Imperial Bank of Commerce priced $4.42 million of 0% capped leveraged buffered notes due Oct. 9, 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 1.6 times the gain, subject to a maximum payout of par plus 33.472%.

Investors will receive par if the index falls by up to 17.5% and will lose 1.2121% for each 1% decline beyond 17.5%.

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:	$4,416,000
Maturity:	Oct. 9, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 1.6 times any index gain, capped at par plus 33.472%; par if the index falls by up to 17.5%; otherwise, 1.2121% loss for each 1% decline beyond 17.5%
Initial level:	4,176.82
Buffer level:	82.5% of initial level
Pricing date:	June 2
Settlement date:	June 9
Agent:	CIBC World Markets Corp.
Fees:	None
Cusip:	13607X7J0

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