New Issue: CIBC prices $2.9 million five-year buffered notes linked to S&P 500

By Marisa Wong

Morgantown, W.Va., April 4 – Canadian Imperial Bank of Commerce priced $2.9 million of 0% buffered notes due March 31, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus 111% of the index return.

Investors will receive par if the index falls by up to 20% and will lose 1% for every 1% that it declines beyond 20%.

CIBC World Markets Corp. is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Buffered notes
Underlying index:	S&P 500
Amount:	$2,896,000
Maturity:	March 31, 2021
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	If the index return is positive, par plus 111% of the index return; par if the index declines by 20% or less; 1% loss for every 1% drop beyond 20%
Initial level:	2,037.05
Pricing date:	March 28
Settlement date:	March 31
Agent:	CIBC World Markets Corp.
Fees:	3.25%
Cusip:	13605WBH3

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