By Wendy Van Sickle
Columbus, Ohio, Nov. 20 – Canadian Imperial Bank of Commerce priced $5 million of 0% leveraged barrier notes due Nov. 20, 2030 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 1.38 times the index gain.
Investors will receive par if the index declines by up to 50%.
Investors will be exposed to any losses if the index declines beyond the barrier.
CIBC World Markets Corp. is the agent.
| Issuer: | Canadian Imperial Bank of Commerce
|
| Issue: | Leveraged barrier notes
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| Underlying index: | S&P 500 index
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| Amount: | $5 million
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| Maturity: | Nov. 20, 2030
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 1.38 times any index gain; par if index declines by up to 50%; otherwise, 1% loss for each 1% decline
|
| Initial index level: | 4,495.7
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| Barrier level: | 2,247.85, 50% of initial level
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| Pricing date: | Nov. 15
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| Settlement date: | Nov. 20
|
| Agent: | CIBC World Markets Corp.
|
| Fees: | 1%
|
| Cusip: | 13607XP68
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