New Issue: CIBC sells $30.44 million capped leveraged buffered notes on S&P 500

By Marisa Wong

Morgantown, W.Va., Feb. 23 – Canadian Imperial Bank of Commerce priced $30.44 million of 0% capped leveraged buffered notes due July 31, 2019 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 1.5 times the index gain, subject to a maximum settlement amount of $1,168.60 per $1,000 principal amount.

If the index falls by up to 10%, the payout will be par. If the index falls by more than 10%, investors will lose 1.1111% for every 1% decline beyond the buffer.

CIBC World Markets Corp. is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Capped leveraged buffered notes
Underlying index:	S&P 500
Amount:	$30,438,000
Maturity:	July 31, 2019
Coupon:	0%
Price:	Par
Payout at maturity:	If the index return is positive, par plus 1.5 times the index gain, return capped at 16.86%; if index falls by up to 10%, par; if index falls by more than 10%, 1.1111% loss for every 1% decline beyond the buffer
Initial index level:	2,732.22
Pricing date:	Feb. 16
Settlement date:	Feb. 26
Agent:	CIBC World Markets Corp.
Fees:	None
Cusip:	13605WJV4

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