New Issue: CIBC prices $14.34 million Accelerated Return Notes tied to three financial stocks

By Marisa Wong

Morgantown, W.Va., July 11 – Canadian Imperial Bank of Commerce priced $14.34 million of 0% Accelerated Return Notes due Aug. 25, 2017 linked to a basket of three financial sector stocks, according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of the common stocks of Citigroup Inc., with an initial weight of 33.34%, and JPMorgan Chase & Co. and Wells Fargo & Co., each with an initial weight of 33.33%.

If the basket return is positive, the payout at maturity will be par of $10 plus 300% of the basket return, subject to a maximum return of 22%. Otherwise, investors will be fully exposed to any decline in the basket.

BofA Merrill Lynch is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Accelerated Return Notes
Underlying basket:	Citigroup Inc. (Symbol: C) with an initial weight of 33.34%; JPMorgan Chase & Co. (Symbol: JPM) and Wells Fargo & Co. (Symbol: WFC), each with an initial weight of 33.33%
Amount:	$14,338,020
Maturity:	Aug. 25, 2017
Coupon:	0%
Price:	Par of $10.00
Payout at maturity:	If the basket return is positive, par plus triple basket gain, subject to a maximum return of 22%; otherwise, full exposure to any basket decline
Initial prices:	$41.29 for Citigroup, $60.58 for JPMorgan, $46.80 for Wells Fargo
Pricing date:	July 7
Settlement date:	July 13
Agent:	BofA Merrill Lynch
Fees:	2%
Cusip:	13607R779

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