New Issue: CIBC prices $12.26 million Leveraged Index Return Notes linked to Dow

By William Gullotti

Buffalo, N.Y., July 19 – Canadian Imperial Bank of Commerce priced $12.26 million of 0% Leveraged Index Return Notes due July 28, 2028 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 1.205 times any index gain.

Investors will receive par if the index declines up to 20% and lose 1% for every 1% that the index declines beyond 20%.

BofA Securities, Inc. is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Leveraged Index Return Notes
Underlying index:	Dow Jones industrial average
Amount:	$12,262,560
Maturity:	July 28, 2028
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 1.205 times any index gain; if index declines up to 20%, par; otherwise, 1% loss for every 1% decline below 20%
Initial index level:	30,630.17
Buffer level:	24,504.14; 80% of initial level
Pricing date:	July 14
Settlement date:	July 21
Agent:	BofA Securities, Inc.
Fees:	2.5%
Cusip:	13607W521

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