New Issue: CIBC prices $3.03 million leveraged upside participation notes on S&P

Chicago, July 15 – Canadian Imperial Bank of Commerce priced $3.03 million of 0% leveraged upside participation market-linked notes due July 6, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus 125% of the gain, subject to a maximum return of 12% of the principal amount.

If the index falls by up to 15%, the payout will be par.

If the index falls by more than 15%, investors will lose 1% for every 1% decline beyond the initial level.

Wells Fargo Securities, LLC is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Leveraged upside participation to a cap market-linked securities with a buffered downside
Underlying index:	S&P 500 index
Amount:	$3,034,000
Maturity:	July 6, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If the index return is positive, par plus 125% of the gain, subject to a cap of 12%; if the index falls by up to 15%, par; if the index falls by more than 15%, 1% loss for every 1% drop beyond 15%
Initial level:	2,941.76
Threshold level:	2,500.496, 85% of initial level
Pricing date:	June 28
Settlement date:	July 3
Agent:	Wells Fargo Securities, LLC
Fees:	2.44%
Cusip:	13605WRG8

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