New Issue: CIBC prices $19.55 million digital notes linked to Russell 1000

By Marisa Wong

Los Angeles, Nov. 16 – Canadian Imperial Bank of Commerce priced $19.55 million of 0% digital notes due Dec. 15, 2021 linked to the Russell 1000 Value index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is at least negative 15%, the payout at maturity will be par plus 5.1%. Investors will lose 1.1765% for each 1% index decline beyond 15%.

Goldman Sachs & Co. LLC is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Digital notes
Underlying index:	Russell 1000 Value index
Amount:	$19.55 million
Maturity:	Dec. 15, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If final index level is at least 85% of initial level, par plus 5.1%; otherwise, 1.1765% loss for each 1% decline beyond 15%
Initial level:	1,256.093
Pricing date:	Nov. 12
Settlement date:	Nov. 19
Agent:	Goldman Sachs & Co. LLC
Fees:	0.95%
Cusip:	13605WM73

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