New Issue: CIBC prices $988,000 capped leveraged notes linked to S&P 500

By Sarah Lizee

Olympia, Wash., May 6 – Canadian Imperial Bank of Commerce priced $988,000 of 0% capped leveraged notes due July 13, 2021 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 three times the index return, subject to a maximum settlement amount of $1,264 per $1,000 principal amount of notes. Otherwise, investors will have one-to-one exposure to the index’s decline.

CIBC World Markets Corp. is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Capped leveraged notes
Underlying index:	S&P 500
Amount:	$988,000
Maturity:	July 13, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus three times index return, subject to maximum settlement amount of $1,264 per $1,000 principal amount of notes; otherwise, one-to-one exposure to index’s decline
Initial level:	2,923.73
Pricing date:	May 1
Settlement date:	May 8
Agent:	CIBC World Markets Corp.
Fees:	None
Cusip:	13605WQR5

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