New Issue: CIBC prices $17.56 million Accelerated Return Notes on Regional Banks

By Devika Patel

Knoxville, Tenn., May 1 – Canadian Imperial Bank of Commerce priced $17.56million of 0% Accelerated Return Notes due June 29, 2018 linked to the S&P Regional Banks Select Industry index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus triple any index gain, subject to a maximum payout of par plus 17.9%. Investors will lose 1% for each 1% decline.

BofA Merrill Lynch is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Accelerated Return Notes
Underlying index:	S&P Regional Banks Select Industry
Amount:	$17,555,580
Maturity:	June 29, 2018
Coupon:	0%
Price:	Par of $10.00
Payout at maturity:	Par plus triple any index gain, return capped at 17.9%; 1% loss for each 1% decline
Initial level:	1,722.28
Final index level: Average of index’s closing levels on five trading days ending June 26, 2018
Pricing date:	April 27
Settlement date:	May 4
Underwriters:	BofA Merrill Lynch
Fees:	2%
Cusip:	13607R324

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