New Issue: CIBC prices $38.28 million buffered digital notes linked to S&P 500

By Wendy Van Sickle

Columbus, Ohio, April 12 – Canadian Imperial Bank of Commerce priced $38.28 million of 0% buffered digital notes due April 15, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes at or above 83% of initial level, the payout at maturity will be par plus 30.21%.

Otherwise, investors will lose 1% for every 1% the index declines beyond 17%.

CIBC Capital Markets is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Buffered digital notes
Underlying index:	S&P 500 index
Amount:	$38,283,000
Maturity:	April 15, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	If index finishes at or above 83% of initial level, par plus 30.21%; otherwise, 1% loss for every 1% that index declines beyond 17%
Initial level:	4,109.11
Buffer level:	3,410.56, 83% of initial level
Pricing date:	April 10
Settlement date:	April 13
Agent:	CIBC Capital Markets
Fees:	0.25%
Cusip:	13607XGV3

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