New Issue: CIBC sells $240,000 notes on Raymond James Focus on Capital stocks

By Marisa Wong

Morgantown, W.Va., Nov. 29 – Canadian Imperial Bank of Commerce priced $240,000 of Raymond James Focus on Capital Returning Stocks equity-linked notes due Nov. 27, 2019, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are linked to an equally weighted basket of 22 common equity securities selected by Raymond James & Associates, Inc. in November based on a combination of objective and subjective factors. The reference shares were picked from common stocks rated “strong buy” or “outperform” by Raymond James’ equity research department and which had a dividend yield over the last 12 months that exceeded that of the S&P 500 index.

The reference shares are American Tower Corp., Best Buy Co., Inc., Chemical Financial Corp., Cisco Systems, Inc., Convanta Holding Corp., CVS Health Corp., Delta Air Lines, Inc., F.N.B. Corp., Huntington Bancshares Inc., HealthSouth Corp., Leggett & Platt, Inc., Marathon Petroleum Corp., Microsoft Corp., Motorola Solutions, Inc., MSC Industrial Direct Co., Inc., Old Republic International Corp., Occidental Petroleum Corp., Republic Services, Inc., AT&T Inc., Targa Resources Corp., Umpqua Holdings Corp. and Union Pacific Corp.

The notes may pay quarterly interest. The amount of any interest to be paid will depend on the total dividends paid on the reference shares during the preceding quarter.

The payout at maturity will be par of $1,000 times 98.6% times the basket level percentage. Because of the 98.6% participation rate, investors will receive less than par if the basket does not increase by at least 3.52%.

CIBC World Markets Corp. is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Raymond James Focus on Capital Returning Stocks equity-linked notes
Underlying basket:	American Tower Corp. (Symbol: AMT), Best Buy Co., Inc. (Symbol: BBY), Chemical Financial Corp. (Symbol: CHFC), Cisco Systems, Inc. (Symbol: CSCO), Convanta Holding Corp. (Symbol: CVA), CVS Health Corp. (Symbol; CVS), Delta Air Lines, Inc. (Symbol: DAL), F.N.B. Corp. (Symbol: FNB), Huntington Bancshares Inc. (Symbol: HBAN), HealthSouth Corp. (Symbol: HLS), Leggett & Platt, Inc. (Symbol: LEG), Marathon Petroleum Corp. (Symbol: MPC), Microsoft Corp. (Symbol: MSFT), Motorola Solutions, Inc. (Symbol: MSI), MSC Industrial Direct Co., Inc. (Symbol: MSM), Old Republic International Corp. (Symbol: ORI), Occidental Petroleum Corp. (Symbol: OXY), Republic Services, Inc. (Symbol: RSG), AT&T Inc. (Symbol: T), Targa Resources Corp. (Symbol: TRGP), Umpqua Holdings Corp. (Symbol: UMPQ), Union Pacific Corp. (Symbol: UNP)
Amount:	$240,000
Maturity:	Nov. 27, 2019
Coupon:	Payable quarterly, based on the total dividends paid on the reference shares during the preceding quarter
Price:	Par of $1,000
Payout at maturity:	Par times 98.6% times the basket level percentage, which is sum of weighted reference share performances
Initial price:	For each stock, average of stock’s average intraday prices on each of Nov. 17, Nov. 20 and Nov. 21
Final price:	For each stock, average of closing prices on Nov. 20, 2019, Nov. 21, 2019 and Nov. 22, 2019
Pricing date:	Nov. 17
Settlement date:	Nov. 27
Agent:	CIBC World Markets Corp.
Fees:	None
Cusip:	136069WF4

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