New Issue: CIBC prices $19.55 million leveraged notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., Oct. 17 – Canadian Imperial Bank of Commerce priced $19.55 million of 0% capped Leveraged Index Return Notes due Dec. 22, 2017 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 of $10 plus 200% of the index return, subject to a maximum return of 9.3%. Investors will receive par if the index declines by 5% or less and will lose 1% for every 1% that it may decline beyond 5%.

BofA Merrill Lynch is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Capped Leveraged Index Return Notes
Underlying index:	S&P 500
Amount:	$19,550,070
Maturity:	Dec. 22, 2017
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If index return is positive, par plus 200% of index return, up to 9.3% maximum return; par if index declines by 5% or less; 1% loss for every 1% that index may decline beyond 5%
Initial index level:	2,132.55
Threshold value:	2,025.92, 95% of initial level
Final index level: Average of index’s closing levels on five trading days ending Dec. 19, 2017
Pricing date:	Oct. 13
Settlement date:	Oct. 20
Underwriter:	BofA Merrill Lynch
Fees:	2%
Cusip:	13607R555

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