CIBC plans to price capped leveraged buffered notes linked to S&P 500

By Devika Patel

Knoxville, Tenn., July 18 – Canadian Imperial Bank of Commerce plans to price 22- to 25-month 0% capped leveraged buffered notes 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 160% of any index gain, up to a maximum settlement amount of between $1,193.60 and $1,227.68 per $1,000 of notes.

Investors will receive par if the index falls by 10% or less and will lose 1.1111% for every 1% decline beyond 10%.

The exact maturity date and cap will be set at pricing.

CIBC World Markets is the agent.

The Cusip is 13605WEM9.

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