New Issue: CIBC sells $2.98 million buffered enhanced notes linked to Russell 2000

By Marisa Wong

Morgantown, W.Va., Dec. 18 – Canadian Imperial Bank of Commerce priced $2.98 million of 0% buffered enhanced return notes due Dec. 19, 2022 linked to the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.

If the index return is zero or positive, the payout at maturity will be par plus 2.5 times the index gain, capped at $1,425 per $1,000 note.

If the index return is negative but greater than or equal to negative 10%, the payout will be par. Otherwise, investors will lose 1% for every 1% that the index declines beyond 10%.

CIBC World Markets is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Buffered enhanced return notes
Underlying index:	Russell 2000
Amount:	$2,975,000
Maturity:	Dec. 19, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	If the index return is zero or positive, par plus 2.5 times the index gain, capped at 42.5%; if the index return is negative but greater than or equal to negative 10%, par; otherwise, 1% loss for every 1% that the index declines beyond 10%
Initial index level:	1,516.117
Pricing date:	Dec. 12
Settlement date:	Dec. 19
Agent:	CIBC World Markets
Fees:	4.5%
Cusip:	13605WHK0

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