New Issue: CIBC prices $16.8 million autocallable Stars linked to Russell 2000

By William Gullotti

Buffalo, N.Y., Feb. 13 – Canadian Imperial Bank of Commerce priced $16.8 million of autocallable Strategic Accelerated Redemption Securities due Feb. 26, 2027 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 11.85% per year.

If the notes are not called, investors will be fully exposed to the decline of the index.

BofA Securities, Inc. is the agent.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Autocallable Strategic Accelerated Redemption Securities
Underlying index:	Russell 2000 index
Amount:	$16,796,620
Maturity:	Feb. 26, 2027
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If not called, 1% loss for each 1% decline from initial level
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 11.85% per year
Initial level:	1,979.699
Pricing date:	Feb. 8
Settlement date:	Feb. 15
Agent:	BofA Securities, Inc.
Fees:	2%
Cusip:	13608J271

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