New Issue: CIBC prices $13.52 million digital notes linked to S&P 500

By Marisa Wong

Morgantown, W.Va., Oct. 18 – Canadian Imperial Bank of Commerce priced $13.52 million of 0% digital notes due March 28, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is greater than or equal to negative 10%, the payout at maturity will be $1,085 per $1,000 principal amount of notes. Otherwise, investors will lose 1.1111% for every 1% that the index declines beyond 10%.

CIBC World Markets Corp. is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Digital notes
Underlying index:	S&P 500
Amount:	$13.52 million
Maturity:	March 28, 2019
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is greater than or equal to negative 10%, $1,085 per $1,000 principal amount of notes; otherwise, 1.1111% loss for every 1% that index declines beyond 10%
Initial index level:	2,557.64
Pricing date:	Oct. 16
Settlement date:	Oct. 23
Agent:	CIBC World Markets Corp.
Fees:	None
Cusip:	13605WGK1

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