New Issue: CIBC prices $6.71 million trigger PLUS linked to S&P 500

By William Gullotti

Buffalo, N.Y., April 30 – Canadian Imperial Bank of Commerce priced $6.71 million of 0% trigger PLUS due April 3, 2030 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the return of the index is positive, the payout at maturity will be par plus 117.5% of the index return.

Investors will receive par if the index declines by 25% or less and will lose 1% for every 1% that it declines if it finishes below the 75% trigger level.

CIBC World Markets Corp. is the agent. Morgan Stanley Wealth Management is the dealer.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Trigger PLUS
Underlying index:	S&P 500 index
Amount:	$6,712,000
Maturity:	April 3, 2030
Coupon:	0%
Price:	Par
Payout at maturity:	If index gains, par plus 117.5% of index return; par if index declines by 25% or less; otherwise, full exposure to loss
Initial level:	5,254.35
Trigger level:	3,940.7625; 75% of initial level
Pricing date:	March 28
Settlement date:	April 3
Agent:	CIBC World Markets Corp.
Dealer:	Morgan Stanley Wealth Management
Fees:	3.5%
Cusip:	13607XRB5

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