New Issue: CIBC sells $3.52 million enhanced return notes on Russell index, metals and mining ETF

By Wendy Van Sickle

Columbus, Ohio, Jan. 11 – Canadian Imperial Bank of Commerce priced $3.52 million of 0% enhanced return notes due July 16, 2019 linked to the lowest performing of the Russell 2000 index and the SPDR S&P Metals and Mining exchange-traded fund, according to a 424B2 filed with the Securities and Exchange Commission.

If both assets gain, the payout at maturity will be par plus 1.45 times the return of the lowest performing asset.

If the lowest performing asset declines from its initial level but finishes at or above 75% of its initial level the payout will be par.

Otherwise the payout will reflect the decline in the lowest performing asset from its initial level.

Jefferies LLC is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Enhanced return notes
Underlying assets:	Russell 2000 index, SPDR S&P Metals and Mining exchange-traded fund
Amount:	$3,515,000
Maturity:	July 16, 2019
Coupon:	0%
Price:	Par
Payout at maturity:	Based on return of lowest performing asset: 1.45 times any gain, par for decline of up to 25%, full exposure to loss if decline is more than 25%
Initial levels:	$22.16 for Russell 2000, $38.11 for Metals and Mining
Principal barrier price:	1,559.801 for Russell 2000, $28.58 for Metals and Mining; 75% of initial levels
Pricing date:	Jan. 10
Settlement date:	Jan. 16
Agent:	Jefferies LLC
Fees:	2.5%
Cusip:	13605WHU8

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