New Issue: CIBC prices $22.91 million Accelerated Return Notes linked to S&P Regional Banks

By Angela McDaniels

Tacoma, Wash., July 31 – Canadian Imperial Bank of Commerce priced $22.91 million of 0% Accelerated Return Notes due Sept. 28, 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, up to a maximum return of 17.17%. 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 Regional Banks Select Industry
Amount:	$22,906,190
Maturity:	Sept. 28, 2018
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 300% of any index gain, capped at 17.17%; exposure to any index decline
Initial index level:	1,711.21
Final index level:	Average of index’s closing levels on five trading days ending Sept. 25, 2018
Pricing date:	July 27
Settlement date:	Aug. 3
Underwriters:	BofA Merrill Lynch
Fees:	2%
Cusip:	13607R183

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