New Issue: CIBC prices $5 million autocallable barrier notes on two indexes

By Wendy Van Sickle

Columbus, Ohio, Dec. 27 – Canadian Imperial Bank of Commerce priced $5 million of 0% autocallable barrier notes due Dec. 23, 2027 linked to the worst performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus 13.1% a year if each index closes above its initial level on any annual observation date, except the final one when the call level will be 70% of the initial level.

The payout at maturity will be par plus the 65.5% final call premium unless any index finishes below its 70% principal barrier level, in which case investors will be fully exposed to the decline of the worst performer from its initial level.

CIBC World Markets Corp. is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	autocallable barrier notes
Underlying indexes:	Euro Stoxx 50 index, Russell 2000 index
Amount:	$5 million
Maturity:	Dec. 23, 2027
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 65.5% unless any index finishes below principal barrier level, in which case full exposure to any losses of the worst performer
Call:	At par plus premium of 13.1% a year if each index closes above initial level on any annual observation date except the final one when the call level will be 70% of the initial level
Initial levels:	1,738.581 for Russell, 3,811.24 for Stoxx
Barrier levels:	1,217.007 for Russell, 2,667.87 for Stoxx; 70% of initial levels
Pricing date:	Dec. 20
Settlement date:	Dec. 23
Agent:	CIBC World Markets Corp.
Fees:	0.3%
Cusip:	13607XEC7

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