New Issue: CIBC sells $17.52 million market-linked notes tied to S&P 500

By Wendy Van Sickle

Columbus, Ohio, Jan. 4 – Canadian Imperial Bank of Commerce priced $17.52 million of 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due Jan. 3, 2019 linked to the S&P 500 index, according to a 424B3 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 200% of any index gain, up to a maximum return of 8.1%.

Investors will receive par if the index falls by up to 7.5% and will lose 1% for every 1% decline beyond 7.5%.

Wells Fargo Securities, LLC is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside
Underlying index:	S&P 500
Amount:	$17,516,000
Maturity:	Jan. 3, 2019
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 200% of any index gain, up to a maximum return of 8.1%; par if the index falls by up to 7.5%; 1% loss for every 1% decline beyond 7.5%
Initial index level:	2,673.61
Threshold level:	2,473.08925, 92.5% of initial level
Pricing date:	Dec. 29
Settlement date:	Jan. 5
Agent:	Wells Fargo Securities, LLC
Fees:	0.24%
Cusip:	13605WHD6

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