CIBC plans capped leveraged notes with geared buffer tied to S&P 500

By Susanna Moon

Chicago, May 12 – Canadian Imperial Bank of Commerce plans to price 0% leveraged buffered notes due in 17 to 20 months linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.

The payout at maturity will be par plus 1.4 times any index gain, up to a maximum settlement amount of between $1,149.38 and $1,175.56 for each $1,000 principal amount of notes.

Investors will receive par if the index falls by up to 10% and will lose 1.1111% for each 1% decline beyond 10%.

CIBC World Markets Corp. is the agent.

The Cusip number is 13605WDC2.

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