New Issue: CIBC sells $43.74 million trigger callable contingent yield notes with daily coupon observation

By Wendy Van Sickle

Columbus, Ohio, June 29 – Canadian Imperial Bank of Commerce priced $43.74 million of trigger callable contingent yield notes with daily coupon observation due Dec. 31, 2025 linked to the worst performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 13.83% if each underlier’s closing level is at least 65% of its initial level on every trading day that period.

The notes are callable at par plus any coupon otherwise due on any quarterly observation date.

If the notes have not been called, the payout at maturity will be par unless any underlier finishes below its 60% downside threshold, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level.

UBS Financial Services Inc. and UBS Investment Bank are the agents.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Trigger callable contingent yield notes with daily coupon observation
Underlying assets:	Nasdaq-100 index, Russell 2000 index, S&P 500 index
Amount:	$43,735,200
Maturity:	Dec. 31, 2025
Coupon:	13.83% per year, payable quarterly if each underlier closes at or above its coupon barrier level on every trading day that period
Price:	Par
Payout at maturity:	Par unless any underlier finishes below its downside threshold, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level.
Call option:	At par plus any coupon otherwise due on any quarterly observation date
Initial levels:	3,900.11 for S&P, 1,771.742 for Russell, 12,008.24 for Nasdaq
Coupon barrier levels:	2,535.07 for S&P, 1,151.632 for Russell, 7,805.36 for Nasdaq; 65% of initial levels
Knock-in levels:	2,340.07 for S&P, 1,063.045 for Russell, 7,204.94 for Nasdaq; 60% of initial levels
Pricing date:	June 27
Settlement date:	June 30
Agents:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	1%
Cusip:	13608J719

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