CIBC to price 13- to 15-month capped leveraged notes tied to S&P 500

By Sarah Lizee

Olympia, Wash., Sept. 10 – Canadian Imperial Bank of Commerce plans to price 0% capped leveraged notes due in 13 to 15 months tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 1.5 times any index gain, subject to a maximum payment of $1,144.75 to $1,170.10 per $1,000 of notes. The exact cap will be set at pricing.

Investors will lose 1% for every 1% decline in the index from its initial level.

CIBC World Markets Corp. is the agent.

The Cusip is 13605WME8.

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