New Issue: CIBC prices $18.98 million digital index-linked notes on S&P 500 Equal Weight Energy

By William Gullotti

Buffalo, N.Y., Dec. 19 – Canadian Imperial Bank of Commerce priced $18.98 million of 0% digital index-linked notes due Dec. 6, 2023 linked to the S&P 500 Equal Weight Energy index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes at or above its 70% buffer level, the payout at maturity will be par plus 12%. Otherwise, investors will lose 1.4286% for every 1% that the index declines beyond 30%.

CIBC World Markets Corp. is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Digital index-linked notes
Underlying index:	S&P 500 Equal Weight Energy index
Amount:	$18,975,000
Maturity:	Dec. 6, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If index finishes at or above buffer level, par plus 12%; otherwise, 1.4286% loss for every 1% that index declines beyond 30%
Initial index level:	2,790.37
Buffer level:	70% of initial level
Pricing date:	Nov. 4
Settlement date:	Nov. 8
Agent:	CIBC World Markets Corp.
Fees:	0.93%
Cusip:	13605W5N7

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