New Issue: CIBC prices $1.11 million index-linked notes on S&P 500

By Wendy Van Sickle

Columbus, Ohio, Jan. 30 – Canadian Imperial Bank of Commerce priced $1.11 million of 0% index-linked notes due Aug. 6, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes above its 119% threshold level, the payout at maturity will be par plus 6%. If the index finishes below the threshold level but at or above the initial level, the payout will be par plus the index return. Otherwise, investors will receive par.

CIBC World Markets Corp. is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	index-linked notes
Underlying index:	S&P 500 index
Amount:	$1.11 million
Maturity:	Aug. 6, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If index finishes at or above 119% of initial level, par plus 6%; if index finishes between 100% and 119% of initial level, par plus index return; otherwise, par
Initial index level:	4,016.22
Buffer level:	119% of initial level
Pricing date:	Jan. 25
Settlement date:	Feb. 1
Agent:	CIBC World Markets Corp.
Fees:	1.51%
Cusip:	13607XF85

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