New Issue: CIBC sells $1 million of 8.76% fixed-interest barrier notes on three stocks

By Kiku Steinfeld

Chicago, Sept. 7 – Canadian Imperial Bank of Commerce priced $1 million of 8.76% fixed-interest barrier notes due Jan. 31, 2024 linked to the stocks of Home Depot, Inc., Intel Corp. and JPMorgan Chase & Co., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless any underlying stock finishes below its 60% barrier level, in which case investors will be fully exposed to the loss of the least performing stock.

CIBC World Markets Corp. is the underwriter.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Fixed-interest barrier notes
Underlying stocks:	Home Depot, Inc., Intel Corp. and JPMorgan Chase & Co.
Amount:	$1 million
Maturity:	Jan. 31, 2024
Coupon:	8.76%, payable monthly
Price:	Par
Payout at maturity:	Par unless any stock finishes below barrier, in which case, investors will be exposed to the decline of the worst performer from its initial level
Initial levels:	$357.28 for Home, $51.69 for Intel, $147.92 for JPMorgan
Barrier levels:	$214.37 for Home, $31.01 for Intel, $88.75 for JPMorgan; 60% of initial levels
Pricing date:	Jan. 27, 2022
Settlement date:	Feb. 1, 2022
Agent:	CIBC World Markets Corp.
Fees:	0.4%
Cusip:	13607X5G8

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