New Issue: CIBC prices $15.21 million Accelerated Return Notes on S&P 500

By Wendy Van Sickle

Columbus, Ohio, Jan. 30 – Canadian Imperial Bank of Commerce priced $15.21 million of 0% Accelerated Return Notes due Jan. 25, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Bank of America Corp.

The payout at maturity will be par of $10 plus triple any index gain, up to a maximum return of 19.7%. Investors will be exposed to any index decline.

BofA Merrill Lynch is the underwriter.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Accelerated Return Notes
Underlying index:	S&P 500
Amount:	$15,206,360
Maturity:	Jan. 25, 2019
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 300% of any index gain, capped at 19.7%; exposure to any index decline
Initial level:	2,296.68
Final index level:	Average of index’s closing levels on five trading days ending Jan. 22, 2019
Pricing date:	Jan. 26
Settlement date:	Feb. 2
Underwriters:	BofA Merrill Lynch
Fees:	2%
Cusip:	13607R456

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