CIBC to price Accelerated Return Notes linked to regional banks index

By Angela McDaniels

Tacoma, Wash., March 29 – Canadian Imperial Bank of Commerce plans to price 0% Accelerated Return Notes due June 2017 linked to the S&P Regional Banks Select Industry index, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus 300% of any index gain, subject to a maximum return that is expected to be 16% to 20% and will be set at pricing. Investors will be exposed to any index decline.

BofA Merrill Lynch is the agent.

The notes will price in April and settle in May.

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