New Issue: CIBC sells $1.68 million buffered notes linked to S&P 500

By Kiku Steinfeld

Chicago, Feb. 2 – Canadian Imperial Bank of Commerce priced $1.68 million of 0% buffered notes due July 30, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes at or above its initial level, the payout at maturity will be par plus any index gain. If the index falls by up to 10%, the payout will be par. Otherwise, investors will lose 1% for every 1% that the index declines beyond 10%.

CIBC World Markets Corp. is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Buffered notes
Underlying index:	S&P 500
Amount:	$1,675,000
Maturity:	July 30, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	If the index finishes at or above its initial level, par plus any index gain; par if index falls by up to 10%; otherwise, 1% loss for every 1% that index declines beyond 10%
Initial index level:	3,849.62
Buffer level:	3,464.66 of 90% of initial level
Pricing date:	Jan. 26
Settlement date:	Jan. 29
Agent:	CIBC World Markets Corp.
Fees:	2.15%
Cusip:	13605WU33

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