New Issue: CIBC prices $47.31 million digital notes linked to Russell 2000

By Marisa Wong

Los Angeles, Feb. 5 – Canadian Imperial Bank of Commerce priced $47.31 million of 0% digital notes due Aug. 3, 2022 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is greater than or equal to negative 10%, the payout at maturity will be the maximum settlement amount of $1,151.50 per $1,000 of notes.

Otherwise, investors will lose 1.1111% for every 1% index decline beyond 10%.

CIBC World Markets Corp. is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Digital notes
Underlying index:	Russell 2000 index
Amount:	$47,306,000
Maturity:	Aug. 3, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is greater than or equal to negative 10%, par plus 15.15%; otherwise, 1.1111% loss for every 1% index decline beyond 10%
Initial level:	2,126.163
Pricing date:	Feb. 1
Settlement date:	Feb. 8
Agent:	CIBC World Markets Corp.
Fees:	1.11%
Cusip:	13605WV57

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