New Issue: CIBC prices $3.66 million capped buffered notes tied to S&P

By Wendy Van Sickle

Columbus, Ohio, Aug. 27 – Canadian Imperial Bank of Commerce priced $3.66 million of 0% capped buffered notes due Sept. 28, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus any gain in the index, up to the maximum redemption amount of 107.2% of par.

Investors will receive par if the index falls by up to 20% and will lose 1.25% for each 1% decline beyond 20%.

CIBC World Markets is the selling agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Capped buffered notes
Underlying index:	S&P 500
Amount:	$3,655,000
Maturity:	Sept. 28, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any index gain, capped at 107.2% of par; par if index falls by 20% or less; 1.25% loss per 1% decline beyond 20%
Initial level:	3,431.28
Buffer level:	80% of initial level
Pricing date:	Aug. 24
Settlement date:	Aug. 31
Selling agent:	CIBC World Markets
Fees:	1.08%
Cusip:	13605WC90

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