New Issue: CIBC prices $2.11 million digital index-linked notes on Euro Stoxx 50

By William Gullotti

Buffalo, N.Y., Sept. 21 – Canadian Imperial Bank of Commerce priced $2.11 million of 0% digital index-linked notes due Dec. 20, 2023 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes at or above its 87.5% buffer level, the payout at maturity will be par plus 13.87%. Otherwise, investors will lose 1.1429% for every 1% that the index declines beyond 12.5%.

CIBC World Markets Corp. is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Digital index-linked notes
Underlying index:	Euro Stoxx 50 index
Amount:	$2,111,000
Maturity:	Dec. 20, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is greater than or equal to negative 12.5%, par plus 13.87%; otherwise, 1.1429% loss for every 1% that index declines beyond 12.5%
Initial index level:	4,169.87
Buffer level:	87.5% of initial level
Pricing date:	Sept. 16
Settlement date:	Sept. 23
Agent:	CIBC World Markets Corp.
Fees:	None
Cusip:	13605W6N6

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