New Issue: CIBC prices $6.61 million digital notes due 2020 linked to S&P 500

By Wendy Van Sickle

Columbus, Ohio, Oct. 10 – Canadian Imperial Bank of Commerce priced $6.61 million of 0% digital notes due Feb. 20, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is greater than or equal to negative 10%, the payout at maturity will be $1,105 per $1,000 principal amount. Otherwise, investors will lose 1.1111% for each 1% that the index declines beyond 10%.

CIBC World Markets Corp. is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Digital notes
Underlying index:	S&P 500
Amount:	$6,612,000
Maturity:	Feb. 20, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is greater than or equal to negative 10%, par plus 10.5%; otherwise, 1.1111% loss for each 1% that index declines beyond 10%
Initial level:	2,885.57
Pricing date:	Oct. 5
Settlement date:	Oct. 15
Agent:	CIBC World Markets Corp.
Fees:	0%
Cusip:	13605WMM0

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