New Issue: CIBC prices $13.92 million autocallable Stars linked to Russell 2000

By Wendy Van Sickle

Columbus, Ohio, Jan. 17 – Canadian Imperial Bank of Commerce priced $13.92 million of autocallable Strategic Accelerated Redemption Securities due Jan. 26, 2029 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus a premium if the closing level of the index is greater than or equal to its starting value on any annual observation date, including maturity. The call premium will be 8.86% per year.

If the notes are not called, investors will receive par if the index falls by up to 15% and will be exposed to the decline of the index beyond 15%.

BofA Securities, Inc. is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Autocallable Strategic Accelerated Redemption Securities
Underlying index:	Russell 2000 index
Amount:	$13,918,340
Maturity:	Jan. 26, 2029
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If not called, par if index falls by up to 15%; 1% loss for each 1% decline beyond 15%
Call:	Notes will be called at par plus a premium if the closing level of the index is greater than or equal to its starting value on any annual observation date including maturity; call premium will be 8.86% per year
Initial level:	1,955.456
Threshold level:	1,662.138, 85% of initial level
Pricing date:	Jan. 11
Settlement date:	Jan. 19
Agent:	BofA Securities, Inc.
Fees:	2%
Cusip:	13608J388

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