New Issue: CIBC prices $14.42 million digital index-linked notes on S&P 500

By Wendy Van Sickle

Columbus, Ohio, April 24 – Canadian Imperial Bank of Commerce priced $14.42 million of 0% digital index-linked notes due July 24, 2024 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 its 85% buffer level, the payout at maturity will be par plus 12.5%. Otherwise, investors will lose 1.1765% for every 1% that the index declines beyond 15%.

CIBC World Markets Corp. is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Digital index-linked notes
Underlying index:	S&P 500 index
Amount:	$14,417,000
Maturity:	July 24, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If index finishes at or above 85% of initial level, par plus 12.5%; otherwise, 1.1765% loss for every 1% that index declines beyond 15%
Initial index level:	4,154.52
Buffer level:	85% of initial level
Pricing date:	April 19
Settlement date:	April 26
Agent:	CIBC World Markets Corp.
Fees:	0%
Cusip:	13607XH91

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