New Issue: CIBC sells $11.13 million digital notes linked to Euro Stoxx Banks

By Wendy Van Sickle

Columbus, Ohio, March 25 – Canadian Imperial Bank of Commerce priced $11.13 million of 0% digital notes due Sept. 21, 2022 linked to the Euro Stoxx Banks index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is greater than or equal to negative 20%, the payout at maturity will be the maximum settlement amount of $1,129 per $1,000 note. Otherwise, investors will lose 1.25% for each 1% index decline beyond 20%.

CIBC World Markets Corp. is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Digital notes
Underlying index:	Euro Stoxx Banks
Amount:	$11,125,000
Maturity:	Sept. 21, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	If the index return is at or above negative 20%, the payout at maturity will be the maximum settlement amount of $1,129 per $1,000 note; investors will lose 1.25% for each 1% index decline beyond 20%
Initial level:	86.87
Buffer level:	80% of initial level
Pricing date:	March 22
Settlement date:	March 29
Agent:	CIBC World Markets Corp.
Fees:	1.33%
Cusip:	13605W2J9

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