New Issue: CIBC prices $10.05 million trigger callable yield notes linked to Russell, S&P

By Wendy Van Sickle

Columbus, Ohio, April 29 – Canadian Imperial Bank of Commerce priced $10.05 million of 9.1% trigger callable yield notes due Aug. 1, 2023 linked to the Russell 2000 index and the S&P 500 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.

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

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Trigger callable yield notes
Underlying indexes:	Russell 2000 index, S&P 500 index
Amount:	$10,048,600
Maturity:	Aug. 1, 2023
Coupon:	9.1%, 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 losses of lowest performing index
Call option:	At par on any monthly call date after three months
Initial levels:	4,183.96 for S&P, 1,884.038 for Russell
Downside threshold levels:	2,510.38 for S&P, 1,130.423 for Russell; 60% of initial levels
Pricing date:	April 27
Settlement date:	April 29
Agents:	UBS Financial Services Inc. and CIBC Capital Markets
Fees:	0%
Cusip:	13608J826

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