New Issue: CIBC prices $10.15 million 9.66% trigger callable yield notes linked to Dow, Russell

By Wendy Van Sickle

Columbus, Ohio, Oct. 30 – Canadian Imperial Bank of Commerce priced $10.15 million of 9.66% trigger callable yield notes due Jan. 30, 2025 linked to the Dow Jones industrial average 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:	Dow Jones industrial average index, Russell 2000 index
Amount:	$10,145,400
Maturity:	Jan. 30, 2025
Coupon:	9.66%, 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:	33,035.93 for Dow, 1,651.428 for Russell
Downside threshold levels:	19,821.56 for Dow, 990.857 for Russell; 60% of initial levels
Pricing date:	Oct. 25
Settlement date:	Oct. 30
Agents:	CIBC Capital Markets and UBS Financial Services Inc.
Fees:	0%
Cusip:	13608P145

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