New Issue: CIBC prices $35.8 million capped Leveraged Index Return Notes linked to S&P

By Wendy Van Sickle

Columbus, Ohio, July 5 – Canadian Imperial Bank of Commerce priced $35.8 million of 0% capped Leveraged Index Return Notes due June 27, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 200% of any index gain, subject to a maximum return of par plus 22.15%.

Investors will receive par if the index declines up to 10% and lose 1% for every 1% that the index declines beyond 10%.

BofA Securities, Inc. is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Capped Leveraged Index Return Notes
Underlying index:	S&P 500 index
Amount:	$53,434,090
Maturity:	June 27, 2025
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 200% of any index gain, capped at par plus 22.15%; if index declines up to 10%, par; otherwise, 1% loss for every 1% decline below 10%
Initial index level:	4,396.44
Buffer level:	3,956.8; 90% of initial level
Pricing date:	June 29
Settlement date:	July 7
Agent:	BofA Securities, Inc.
Fees:	2%
Cusip:	13607Y576

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