New Issue: CIBC sells $26.28 million capped leveraged notes with absolute return buffer on S&P

By William Gullotti

Buffalo, N.Y., April 30 – Canadian Imperial Bank of Commerce priced $26.28 million of 0% capped leveraged notes with absolute return buffer due April 27, 2029 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus 1.295 times any index gain, subject to a maximum return of par plus 60%.

If the index finishes flat or falls by up to 20%, investors will receive par plus the absolute value of the index return.

Otherwise, investors will lose 1% for every 1% decline beyond 20%.

BofA Securities, Inc. is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Capped leveraged notes with absolute return buffer
Underlying index:	S&P 500 index
Amount:	$26,282,290
Maturity:	April 27, 2029
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 1.295 times any index gain, capped at par plus 60%; if index falls by up to 20%, par plus absolute value of index return; otherwise, lose 1% for every 1% decline beyond 20%
Initial value:	5,048.42
Threshold value:	4,038.74; 80% of initial value
Pricing date:	April 25
Settlement date:	May 2
Agent:	BofA Securities, Inc.
Fees:	2.5%
Cusip:	13608P798

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