CIBC to price Accelerated Return Notes linked to S&P 500

By Marisa Wong

Morgantown, W.Va., March 29 – Canadian Imperial Bank of Commerce plans to price 0% Accelerated Return Notes due March 2019 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 of $10 plus triple any index gain, up to a maximum return of 16% to 20%. Investors will lose 1% for each 1% index decline.

BofA Merrill Lynch is the agent.

The notes will price in March and settle in April.

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