New Issue: CIBC prices $157.71 million Capped Leveraged Index Return Notes on S&P

By Sarah Lizee

Olympia, Wash., Oct. 29 – Canadian Imperial Bank of Commerce priced $157.71 million of 0% Capped Leveraged Index Return Notes due Oct. 30, 2020 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 double any index gain, capped at 17.92%.

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

BofA Merrill Lynch is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Capped Leveraged Index Return Notes
Underlying index:	S&P 500
Amount:	$157,710,030
Maturity:	Oct. 30, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 200% of any index gain, capped at 17.92%; par if index falls by up to 10%; 1% loss for every 1% decline beyond 10%
Initial value:	2,705.57
Threshold value:	2,435.01, 90% of initial value
Pricing date:	Oct. 25
Settlement date:	Nov. 1
Agent:	BofA Merrill Lynch
Fees:	2%
Cusip:	13606M292

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