New Issue: CIBC prices $2.5 million capped leveraged buffered notes on S&P 500

By Sarah Lizee

Olympia, Wash., Nov. 15 – Canadian Imperial Bank of Commerce priced $2.5 million of 0% capped leveraged buffered notes due Jan. 9, 2020 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 two times the index gain, capped at par plus 13.04%.

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% 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:	$2.5 million
Maturity:	Jan. 9, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus two times the index gain, capped at par plus 13.04%; if index falls by up to 10%, par; if index falls by more than 10%, 1% loss for every 1% decline beyond the buffer
Initial level:	2,722.18
Pricing date:	Nov. 14
Settlement date:	Nov. 21
Agent:	CIBC World Markets Corp.
Fees:	0.1%
Cusip:	13605WNF4

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