New Issue: CIBC sells $8.58 million Accelerated Return Notes on financial stocks

By Marisa Wong

Morgantown, W.Va., April 12 – Canadian Imperial Bank of Commerce priced $8.58 million of 0% Accelerated Return Notes due May 22, 2020 linked to a basket of three equally weighted stocks, according to a 424B2 filing with the Securities and Exchange Commission.

The underlying companies are Citigroup Inc., KeyCorp and Wells Fargo & Co.

The payout at maturity will be par of $10 plus triple any basket gain, up to a maximum payout of par plus 24.9%.

Investors will lose 1% for each 1% basket decline.

BofA Merrill Lynch is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Accelerated Return Notes
Underlying basket:	Citigroup Inc. (Symbol: C), KeyCorp (Symbol: KEY) and Wells Fargo & Co. (Symbol: WFC); equally weighted
Amount:	$8,576,600
Maturity:	May 22, 2020
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus triple any basket gain, up to a maximum payout of par plus 24.9%; 1% loss for each 1% basket decline
Initial share prices:	$61.98 for Citigroup, $15.70 for KeyCorp, $49.09 for Wells Fargo
Pricing date:	March 28
Settlement date:	April 4
Agent:	BofA Merrill Lynch
Fees:	2%
Cusip:	13606M151

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