New Issue: CIBC prices $7.27 million 5% trigger callable yield notes linked to Stoxx, Russell

By William Gullotti

Buffalo, N.Y., Jan. 14 – Canadian Imperial Bank of Commerce priced $7.27 million of 5% trigger callable yield notes due Jan. 18, 2024 linked to the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes are callable at par of $10 on any monthly coupon payment date after three months.

The payout at maturity will be par unless the lowest performing index finishes below its 60% downside threshold level, in which case investors will be fully exposed to the index’s decline.

CIBC Capital Markets and UBS Financial Services Inc. are the agents.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Trigger callable yield notes
Underlying indexes:	Euro Stoxx 50 index, Russell 2000 index
Amount:	$7,267,750
Maturity:	Jan. 18, 2024
Coupon:	5%, payable monthly
Price:	Par of $10
Payout at maturity:	If the lowest performing index finishes at or above downside threshold level, par; otherwise, full exposure to least performing index’s decline from its initial level
Call option:	At par on any monthly call date after three months
Initial levels:	4,316.39 for Stoxx, 2,176.057 for Russell
Downside threshold levels:	2,589.83 for Stoxx, 1,305.634 for Russell; 60% of initial levels
Pricing date:	Jan. 12
Settlement date:	Jan. 18
Agents:	CIBC Capital Markets and UBS Financial Services Inc.
Fees:	1%
Cusip:	136071DM6

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