New Issue: CIBC prices $15.18 million 11.13% coupon bearing notes tied to Netflix

By Marisa Wong

Morgantown, W.Va., Oct. 4 – Canadian Imperial Bank of Commerce priced $15.18 million of 11.13% coupon bearing notes due Oct. 13, 2017 linked to Netflix, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable quarterly.

If Netflix shares finish at or above the threshold level – 95% of the initial price – the payout at maturity will be par of $10.

Otherwise, investors will be exposed to losses beyond 5%.

BofA Merrill Lynch is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Coupon bearing notes
Underlying stock:	Netflix Inc. (Symbol: NFLX)
Amount:	$15,183,970
Maturity:	Oct. 13, 2017
Coupon:	11.13%, payable quarterly
Price:	Par of $10
Payout at maturity:	If index finishes at or above threshold level, par; otherwise, exposure to losses beyond 5%
Initial value:	$97.18
Threshold value:	$92.32, 95% of initial price
Pricing date:	Sept. 29
Settlement date:	Oct. 6
Agent:	BofA Merrill Lynch
Fees:	1.75%
Cusip:	13607R639

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