New Issue: CIBC sells $4 million capped leveraged buffered notes on S&P 500

By Wendy Van Sickle

Columbus, Ohio, Aug. 20 – Canadian Imperial Bank of Commerce priced $4 million of 0% capped leveraged buffered notes due Dec. 10, 2020 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 140% of the index return, capped at par plus 16.17%. Investors will receive par if the index declines by 10% or less and will lose 1.1111% for each 1% that the index may decline beyond 10%.

CIBC World Markets Corp. is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Capped leveraged buffered notes
Underlying index:	S&P 500
Amount:	$4,004,000
Maturity:	Dec. 10, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 140% of any index gain, capped at par plus 16.17%; par if index declines by 10% or less; 1.1111% loss for each 1% decline beyond 10%
Initial index level:	2,888.68
Buffer level:	90% of initial level
Pricing date:	Aug. 16
Settlement date:	Aug. 23
Agent:	CIBC World Markets Corp.
Fees:	0%
Cusip:	13605WRY9

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